Perry Ellis International, Inc. Announces Record First Quarter Fiscal 2001 Results; First Quarter Revenue Increases 36.5% over Prior Year.Business Editors MIAMI--(BUSINESS WIRE)--May 23, 2000 Perry Ellis International Perry Ellis International is a leading international marketer of clothing, offering a diverse portfolio of brands through multiple distribution channels. PEI Brands
Total revenue for the first quarter increased 36.5% to $84.3 million, compared to $61.8 million for the comparable quarter last year, as 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 increased $18.8 million and royalty income grew $3.8 million. Net income for the first quarter increased 24.2% to $3.6 million, or $0.53 per diluted share, compared to $2.9 million, or $0.43 per diluted share in the comparable year ago period. George Feldenkreis, Chairman and Chief Executive Officer, commented, "We are happy to report another record quarter for the Company as all of our product lines showed increases. We are also pleased with the surge in sales of Perry Ellis Perry Ellis (March 3, 1940 – May 30, 1986) was an American fashion designer who founded a sportswear house in the mid-1970s. The Rise of Perry Ellis Perry Edwin Ellis was born in Portsmouth, Virginia, on March 3, 1940, as the only child of Edwin and Winifred products, especially sportswear, dress shirts, pants and fragrances in all department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. . The strategies in which we have been working for the last few years are starting to bear fruit and reflect the strength of the Company and its excellent positioning for the future." Oscar Feldenkreis, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , concluded, "Prospects for both our branded and private label products for the coming year are excellent. We continue to diversify the mix of our product offerings. The John Henry, Andrew Henry, Andrew (c. 1775–1833) trapper, lead miner; born in York County, Pa. He moved to present-day Missouri (1800) where he engaged in lead mining. He joined the St. Fezza, Natural Issue, Crossings, Grand Slam grand slam n. 1. The winning of all the tricks during the play of one hand in bridge and other whist-derived card games. 2. Sports The winning of all the major or specified events, especially on a professional circuit. and Ping labels continue to perform well." Perry Ellis International, Inc. designs, imports and markets men's sportswear under a variety of names and licensees including Crossings(R), Natural Issue(R), Grand Slam(R), Penguin Sport(R), Munsingwear(R), John Henry(R), Manhattan(R), Alexander Martin(R), Andrew Fezza(R), Ping(R), and PNB PNB Produit National Brut (French) PNB Punjab National Bank (India) PNB Philippine National Bank PNB Producto Nacional Bruto (Spanish: Gross National Product) Nation(R), among others. The Company also owns the trademarks to Perry Ellis(R), Perry Ellis Portfolio(R), and Perry Ellis America(R). The Company's products are sold to department stores, chain stores, specialty stores and mass merchants throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and other countries. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. (statements which are not historical facts) in the release are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Perry Ellis International's actual results could differ materially from those expressed or indicated by forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, changes in fashion trends, risk relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the retail industry, use of contract manufacturing and foreign sourcing, import restrictions, competition, seasonality and other factors. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company's filing with the Securities and Exchange Commission.
Perry Ellis International, Inc. Announces
First Quarter Fiscal 2001 Results
Perry Ellis International, Inc.
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME
(in 000's, except per share information)
Quarter Ended
April 30, 2000 April 30, 1999
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Net sales $78,232 $59,479
Royalty income 6,093 2,317
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Total revenue 84,325 61,796
Cost of sales 58,872 44,173
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Gross profit 25,453 17,623
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SG&A expenses 14,307 10,180
Depreciation & amortization 1,502 979
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Total operating expenses 15,809 11,159
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Operating income 9,644 6,464
Interest expense 3,866 1,948
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Income before income taxes 5,778 4,516
Income tax provision 2,188 1,625
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Net income 3,590 2,891
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Earnings per share:
Basic $0.53 $0.43
Diluted $0.53 $0.43
Weighted average outstanding shares:
Basic 6,732 6,723
Diluted 6,836 6,803
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