- Net sales were $216.7 million compared to $238.2 million for the third quarter of fiscal year 2010.
- Comparable store sales decreased 5.2% compared to a 3.6% increase in the third quarter last year.
- Operating loss was $6.0 million compared to an operating loss of $4.0 million in the third quarter last year.
- Net loss was $9.0 million, or $0.15 per diluted share and included an unusual tax charge of $2.5 million, or $0.04 per diluted share. The charge pertains to an IRS income tax audit for tax years prior to and including 2002.
- Net income for the same period last year was $1.9 million, or $0.03 per diluted share, which included an unusual tax benefit of $6.1 million, or $0.10 per diluted share, reflecting a change in accounting methods for tax purposes, and the previously disclosed unusual charge of $0.01 per diluted share.
- As previously disclosed, the Company’s income tax provision reflects the continuing impact of its deferred tax valuation allowance initially recorded in the second quarter of fiscal year 2010.
New York & Company, Inc. Announces Third Quarter 2011 Results
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