This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Cost Plus, Inc. Reports Fourth Quarter And Fiscal 2011 Results And Provides Outlook For The First Quarter And Full Year Fiscal 2012

As a percentage of net sales, selling, general and administrative (SG&A) expenses for the fourth quarter of fiscal 2011 decreased 80 basis points to 22.6% compared to 23.4% for the fourth quarter last year. As a percentage of net sales, SG&A expenses for fiscal 2011 also decreased 80 basis points to 28.8% compared to 29.6% last year. The decrease in SG&A expenses as a percentage of net sales for the quarter and the year was primarily due to increased leverage from higher sales.

Net income from continuing operations for the fourth quarter of fiscal 2011 was $36.8 million, or $1.56 per diluted share, compared to net income from continuing operations of $28.8 million, or $1.24 per diluted share, for the fourth quarter of fiscal 2010. Net income from continuing operations for fiscal 2011 was $17.7 million, or $0.76 per diluted share, compared to net income from continuing operations of $4.7 million, or $0.21 per diluted share, last year.

Net income for the fourth quarter of fiscal 2011 was $36.5 million, or $1.55 per diluted share, compared to net income of $28.5 million, or $1.23 per diluted share, for the fourth quarter of fiscal 2010. Net income for fiscal 2011 was $16.5 million, or $0.71 per diluted share, compared to net income of $2.9 million, or $0.13 per diluted share, last year.

For the fourth quarter of fiscal 2011, non-GAAP earnings before interest, taxes, depreciation, and amortization (“EBITDA”) from continuing operations was $47.2 million compared to $37.6 million for the fourth quarter last year. For fiscal 2011, EBITDA from continuing operations was $51.3 million compared to $39.5 million last year.

As a result of paying off the asset-based credit facility, the Company ended the year with no outstanding borrowings and $9.6 million in letters of credit outstanding, compared to $25.4 million in outstanding borrowings and $10.8 million in letters of credit outstanding at the end of last year. The percentage utilization under the credit facility at the end of fiscal 2011 was 7% compared to 28% a year ago. The revolving credit facility expires in January 2016. The Company's liquidity position is sufficient to meet planned expenditures through the next 12 months and the foreseeable future.

3 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,856.78 -278.94 -1.54%
S&P 500 2,071.26 -29.78 -1.42%
NASDAQ 4,927.37 -55.4390 -1.11%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs