Year-to-Date ResultsFor the year-to-date period ended November 24, 2012, the Company reported net income of $67.7 million, or $0.62 per share, which included the tax benefit and reduced accrued interest resulting from the reversal of a portion of the Company’s reserve for uncertain income tax positions in the second quarter of fiscal 2013. For the first nine months of fiscal 2013, adjusted net income on a non-GAAP basis was $65.7 million, or $0.60 per share, and excludes the estimated impact of Hurricane Sandy, utilizes an estimated annual effective tax rate of 35.6%, and excludes the reversal of accrued interest referenced above (as described below under Financial Disclosure Advisory). The Company reported net income of $53.7 million, or $0.47 per share, for the same period last year. Total sales for the first nine months increased 9.1% to $1.153 billion from $1.057 billion in the year-ago period. Comparable store sales for the first nine months increased 7.3% versus a comparable store sales increase of 9.2% in the year-ago period.
Pier 1 Imports, Inc. Reports Fiscal 2013 Third Quarter Financial Results
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