BOMBAY EARNINGS INCREASE 201 PERCENT IN MARCH QUARTER
BOMBAY EARNINGS INCREASE 201 PERCENT IN MARCH QUARTER FORT WORTH, Texas, April 16 /PRNewswire/ -- The Bombay Company Inc.
(AMEX: BBA) reported today that net income increased 201 percent to $988,000 or $.10 cents per share for the three months ended March 29, 1992 compared to net income from continuing operations of $328,000 or 3 cents per share for the same period last year. For the nine months ended March 29, 1992, net income increased 40 percent to $8,100,000 or 83 cents per share compared to net income from continuing operations of $5,770,000 or 61 cents per share for the comparable period. The earnings per share amounts give effect to the three-for-two stock split paid to stockholders of record as of Feb. 14, 1992.
Sales for the three month period ended March 29, 1992 were $40,873,000, an increase of $9,470,000 or 30 percent over the comparable period last year with same store sales increasing 18 percent. For the nine month period ended March 29, 1992, sales were $136,085,000 an increase of $26,449,000 or 24 percent over the comparable period last year with same store sales increasing 11 percent. Robert E.M. Nourse, president and chief executive officer, stated that he was extremely pleased that the company continued to perform well during this recessionary period. He noted that the earnings improvement was directly attributable to higher sales performance throughout most of the quarter. He further noted that there was a net increase of 28 stores since the beginning of the fiscal year and that the company remained on plan with its store opening program. The Bombay Company, Inc. is a specialty retailer marketing antique reproduction furniture, prints and accessories through a network of 340 stores in the United States and Canada. THE BOMBAY COMPANY, INC. AND SUBSIDIARIES Consolidated Statements of Income (In thousands, except per share amounts) Periods ended: Three months Nine months 3/29/92 3/31/91 3/29/92 3/31/91 Net sales $40,873 $31,403 $136,085 $109,636 Income before income taxes 1,619 524 13,278 9,720 Provision for income taxes 631 196 5,178 3,950 Income from cont. operations 988 328 8,100 5,770 Income from discont. operation -- -- -- 664 Net income 988 328 8,100 6,434 Average common shares and common equivalent shares outstanding 9,870 9,405 9,728 9,422 Net income per average common share and common equivalent share: Income from cont. opers. $0.10 $0.03 $0.83 $0.61 Income from discont. opers. -- -- -- 0.07 Net income $0.10 $0.03 $0.83 $0.68 All share and per share amounts reflect the effect of the three-for- two stock split paid to stockholders of record as of Feb. 14, 1992. -0- 4/16/92 /CONTACT: Robert E. M. Nourse, president and chief executive officer of the Bombay Company, 817-347-8200/ (BBA) CO: Bombay Company Inc. ST: Texas IN: REA SU: ERN
KD-TS -- NY017 -- 9151 04/16/92 09:57 EDT
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|Date:||Apr 16, 1992|
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