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Tumi Holdings Announces Financial Results For The First Quarter Of 2012

Balance Sheet Highlights as of March 25, 2012:

Cash and cash equivalents were $30.5 million compared with $32.7 million as of December 31, 2011 and $15.4 million as of March 27, 2011. Inventories were $63.1 million compared with $60.5 million as of December 31, 2011. Inventories totaled $52.8 million as of March 27, 2011.

Outlook

For fiscal 2012, net sales are expected to be in the range of $385 million to $390 million. This estimate assumes a comparable store sales growth in the mid to high single digit range. Net income is expected to be in the range of $30 million to $32 million. Diluted earnings per share are expected to be in the range of $0.47 to $0.50 per diluted share. This estimate assumes weighted average diluted common shares outstanding of 63.3 million. Net income, excluding a $5.6 million ($3.4 million net of tax benefit) expense incurred in the second quarter of 2012 in respect of a one-time special bonus paid to the Company's chief executive officer, president and director upon successful completion of the IPO and non-cash dividend expense on mandatorily redeemable preferred stock and preferred equity interests of $7.9 million, and assuming a normalized tax rate of 39%, is expected to be in the range of $41 million to $43 million. On a diluted earnings per share basis, this represents a range of $0.64 to $0.67 per diluted share.

Capital expenditures for fiscal 2012 are expected to be in the range of $17.0 million to $20.0 million.

Conference Call Information

Tumi Holdings, Inc. will host a conference call to discuss first quarter results today, May 15, 2012, at 4:30 p.m. ET. The general public can access the call by dialing 1-888-396-2298 (domestic) or 1-617-847-8708 (international). The passcode is 88016867. Please dial in 5 minutes before the start of the call. The conference call will also be webcast live in the Investor Relations section of www.tumi.com. A telephone replay of the call will be available through May 23, 2012; to access the replay, dial 1-888-286-8010 for domestic callers or 1-617-801-6888 for international callers and enter access code 28774431. The webcast will be accessible on the website for approximately 90 days after the call.

About Tumi

Tumi is the leading global brand of premium travel, business and lifestyle products and accessories. The brand is sold in approximately 200 stores from New York to Paris to London and Tokyo, as well as in the world’s top department, specialty and travel retail stores in over 70 countries.

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