BROOKSTONE ANNOUNCES FOURTH QUARTER, YEAR END RESULTS.NASHUA Nashua (năsh`  ə), city (1990 pop. 79,662), seat of Hillsborough co., S N.H., on the Merrimack and Nashua rivers near the Mass. line; settled c.1655, inc. as a city 1853. , N.H.--(BUSINESS WIRE)--March 22, 1995--Brookstone, Inc.
(Nasdaq:BKST) today announced results for the fourth quarter and fiscal
year 1994.For the three months ended January January: see month. 28, 1995, the Company reported net income of $8,717,000 or $1.10 per share, compared to net income of $8,978,000 or $1.10 per share for the same period last year. Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the fourth quarter of fiscal 1994 increased 18.1% to $87,864,000 from $74,419,000 in the same period last year. Same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of decreased 2.5% during the period. For the twelve months ended January 28, 1995, the Company reported net income of $5,143,000, or $0.66 per share compared to income before extraordinary gain of $6,898,000 or $0.88 per share for the same period last year. Net income for the twelve months ending January 29, 1994, was $9,972,000 or $1.27 per share and included an extraordinary gain from the extinguishment The destruction or cancellation of a right, a power, a contract, or an estate. Extinguishment is sometimes confused with merger, though there is a clear distinction between them. of debt that amounted to $3,074,000 or $0.39 per share. For fiscal 1994, net sales increased 16.6% to $167,420,000 from $143,540,000 in the twelve months of the prior fiscal year. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. same store sales increased 0.3%. Brookstone Brookstone is a chain of retail stores in the United States. Its first store was opened in 1973 in Peterborough, New Hampshire. Its headquarters are currently located in Merrimack, New Hampshire. Brookstone sells many types of products ranging from radar detectors to massage chairs. , Inc. is a nationwide specialty A contract under seal. A specialty is a written document that has been sealed and delivered and is given as security for the payment of a specifically indicated debt. retailer that operates 131 stores in 30 states. The stores, typically located in high-traffic regional shopping malls shopping mall or shopping centre Collection of independent retail stores, services, and parking areas constructed and maintained by a management firm as a unit. It is a 20th-century adaptation of the historical marketplace. In the U.S. , feature consumer products that are both functional and distinctive in quality and design. The Company also operates a mail order catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. business for hard-to-find tools and other household products. -0-
BROOKSTONE, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except share data)
BROOKSTONE, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except share data)
Thirteen Weeks Ending Fifty-Two Weeks Ending
1/29/94 1/28/95 1/29/94 1/28/95
(Unaudited)
Net sales $87,864 $74,419 $167,420 $143,540 Cost of sales 49,879 40,405 101,567 83,867 Gross profit 37,985 34,014 65,853 59,673 Selling, general and administrative expenses 22,802 17,864 56,413 46,661 Loss on sale of Peterborough facility -- 590 -- 590 Income from operations 15,183 15,560 9,440 12,422 Interest expense, net 292 294 648 651 Income before taxes and extraordinary gain 14,891 15,266 8,792 11,771 Income taxes 6,174 6,288 3,649 4,873 Income before extraordinary gain 8,717 8,978 5,143 6,898 Extraordinary gain from extinguishment of debt -- -- -- 3,074 Net income $8,717 $8,978 $5,143 $9,972 Income per share: Income before extraordinary gain $1.10 $1.10 $0.66 $0.88 Extraordinary gain from extinguishment of debt -- -- -- 0.39 Net income $1.10 $1.10 $0.66 $1.27 Weighted average shares outstanding 7,922 8,166 7,849 7,838
BROOKSTONE, INC.
CONSOLIDATED BALANCE SHEET
(In thousands, except share data)
January 28, January 29,
Assets 1995 1994
Current Assets:
Cash and cash equivalents $4,158 $14,742
Receivables, net 3,699 2,636 Merchandise inventories 29,081 21,638 Deferred income taxes 1,301 1,784 Other current assets 2,863 2,428
Total current assets 41,102 43,228
Deferred income taxes 1,627 2,346 Property and equipment, net 29,067 19,449 Other assets 757 558
$72,553 $65,581
Liabilities and Shareholders' Equity
Current Liabilities:
Accounts payable $ 8,324 $ 6,024 Other current liabilities 10,991 13,286
Total current liabilities 19,315 19,310
Other long-term liabilities 7,546 7,148 Long-term portion of capitalized lease 2,936 2,999 Commitments and Contingencies Shareholders' Equity: Common stock, $0.001 par value: Authorized - 50,000,000 shares; issued and outstanding - 7,602,983 shares at January 28, 1995; and 7,287,163 shares at January 29, 1994 8 7 Additional paid-in capital 45,952 44,464 Accumulated deficit (3,157) (8,300) Treasury stock, at cost - 3,616 shares at January 28, 1995 and January 29, 1994 (47) (47)
Total shareholders' equity 42,756 36,124
CONTACT: Brookstone, Inc., Nashua John J. Rahilly, 603/880-9500 or Morgen-Walke Associates, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Naomi Rosenfeld/Eileen Howard Howard, English noble family. Landowners in Norfolk from the 13th cent., the Howards obtained the duchy of Norfolk through the marriage of Sir Robert Howard to Margaret Mowbray, daughter of Thomas Mowbray, 1st duke of Norfolk. Media Contact: Lisa Bradlow 212/850-5600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion