Chic by H.I.S. 1997 second quarter report.NEW YORK--(BUSINESS WIRE)--June 6, 1997--Chic by H.I.S. (NYSE NYSE See: New York Stock Exchange : JNS JNS Journal of Neurosurgery JNS Jump If No Sign JNS Narssaq, Greenland (Airport Code) JNS Journal of Neoplatonic Studies JNS Justification for New Start ) today reported that net income for the second quarter ended May 3, 1997 was $9,070,000 or $.93 per share. Net income for the second quarter last year was $675,000 or $.07 per share. FINANCIAL TABLE QUARTER ENDED: MAY 3, 1997 MAY 4, 1996 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 66,442,000 84,344,000 Gross profit 7,697,000 18,530,000 Add: Licensing income 764,000 1,279,000 Less: Sell, gen. & admin. expenses 24,531,000 16,379,000 Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. (loss) (16,070,000) 3,430,000 Gain on sale of subsidiary stock 34,079,000 ---------- Less: Interest expense 1,502,000 1,618,000 Pretax income pretax income Reported income before the deduction of income taxes. Pretax income is sometimes considered a better measure of a firm's performance than aftertax income because taxes in one period may be influenced by activities in earlier periods. 16,507,000 1,812,000 Less: Taxes 7,437,000 1,137,000 Net income 9,070,000 675,000 Outstanding shares 9,796,427 9,753,868 E.P.S.-net income $0.93 $0.07 Financial Table for the Twenty-Six Weeks Ended: May 3, 1997 May 4, 1996 Net Sales 122,473,000 155,173,000 Gross Profit 22,508,000 34,703,000 Add: Licensing Income 1,302,000 2,898,000 Less: Sell, Gen. & Admin. Expenses 38,870,000 29,794,000 Restructure Charge --------- 15,000,000 Operating Loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. (15,060,000) (7,193,000) Gain on Sale of Subsidiary Stock 34,079,000 ---------- Less: Interest Expense 2,689,000 3,481,000 Pretax Income (loss) 16,330,000 (10,674,000) Less: Taxes 7,654,000 2,423,000 ---------- ---------- Net Income Before Extraord. Items 8,676,000 (13,097,000) Extraordinary Items (330,000) - - - ---------- ---------- Net Income (Loss) 8,346,000 (13,097,000) Outstanding Shares 9,753,868 9,753,868 E.P.S.-Before Restructuring Charge restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. N/A $0.20 E.P.S.-Before Extrad. Items $0.89 N/A E.P.S.-Net Income (Loss) $0.86 ($1.34) CONTACT: Chic by H.I.S. Christine Hadjigeorge, 212/302-6400, ext. 210 |
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