Joe’s Jeans Reports 33% Increase In Net Sales To $33.7 Million For The 4th Quarter Of Fiscal 2012

Mr. Crossman commented, “During the quarter, we were pleased to see our women’s Joe’s® wholesale business increase as our Vintage Reserve and revamped core basics brought back customers. These items, layered in with a growing men’s business and our else™ brand, allowed our wholesale channel to have healthy growth for the quarter.”

Corporate and Other

For the fourth quarter of fiscal 2012, our corporate and other expenses were $4.7 million compared to $5.3 million in the fourth quarter a year ago. Corporate and other expenses decreased due to decreases in our advertising commitments for print and other advertising and professional fees.

The Company will host a conference call on Thursday, February 21, 2013 at 4:30 p.m. Eastern Time with the Company’s Chief Executive Officer, Marc Crossman, and its Chief Financial Officer, Hamish Sandhu, to discuss financial results for the fourth quarter and fiscal year ended November 30, 2012.

To access the live call, please dial 1(800) 264-7882 (U.S.) or [phone] (International). The conference ID number and participant passcode is 34267908 and is titled the “Q4 2012 Joe’s Jeans Inc. Earnings Conference Call.” The information provided on the teleconference is only accurate at the time of the conference call, and the Company will take no responsibility for providing updated information. A telephone replay of the conference call will be available beginning at 7:00 p.m. Eastern Time on February 21, 2013 until 3:00 a.m. Eastern Time on March 1, 2013 by dialing 1(888) 843-7419 (U.S.) or 1 [phone] (International) and using the conference passcode 34267908#. In addition, the conference call will be archived for two weeks on the Company’s website at www.joesjeans.com.

JOE'S JEANS INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
					Three months ended
					November 30, 2012										November 30, 2011
					(unaudited)
Net sales					$	33,736									$	25,388
Cost of goods sold						18,028										13,674
	Gross profit					15,708										11,714
Operating expenses
	Selling, general and administrative					12,062										11,564
	Depreciation and amortization					477										281
						12,539										11,845
Operating income (loss)						3,169										(131	)
	Interest expense					99										119
Income (loss) before provision for taxes						3,070										(250	)
	Income taxes provision					1,107										18
Net income (loss)					$	1,963									$	(268	)
Earnings (loss) per common share - basic					$	0.03									$	(0.00	)
Earnings (loss) per common share - diluted					$	0.03									$	(0.00	)
Weighted average shares outstanding
	Basic					66,010										64,391
	Diluted					67,175										64,391

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