This Day On The Street
Continue to site
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

Perry Ellis International Reports Fourth Quarter & Full Fiscal 2013 Results

As reported under GAAP, fourth quarter earnings per diluted share were $0.28 compared to earnings per diluted share of $0.12 in the fourth quarter of fiscal 2012. On an adjusted basis, fourth quarter earnings per diluted share were $0.50 as compared to adjusted earnings per diluted share of $0.38 in the fourth quarter of fiscal 2012. Adjusted earnings per diluted share exclude certain items as outlined in Table 1 Reconciliation of GAAP diluted earnings per share to adjusted diluted earnings per share.

Fiscal 2013 Results

Fiscal 2013 revenues were $970 million, as compared to $980 million reported in the prior year ended January 28, 2012 ("fiscal 2012). The prior year results include approximately $20 million of revenues associated with businesses exited during fiscal 2013. Revenues rose in many of the Company's businesses, including Golf lifestyle apparel, Laundry by Shelli Segal, International distribution and Direct to Consumer. These increases were partially offset by planned reductions in the Perry Ellis and Rafaella sportswear collections.

On a GAAP basis, net income for fiscal 2013 was $14.8 million, or $0.97 per fully diluted share compared to GAAP net income of $25.5 million or $1.60 per fully diluted GAAP share in fiscal 2012. 

Adjusted earnings per diluted share for fiscal 2013 were $1.45 compared to adjusted earnings per diluted share of $1.94 in fiscal 2012 and exclude the costs mentioned above for both fiscal periods. (See reconciliation "Table 1")

Gross margin for fiscal 2013 was 32.7% and was negatively impacted by 30 basis points due to business exit costs. This compares to gross margin of 33.0% in fiscal 2012.  Gross margin performance in fiscal 2013 also reflects a higher level of promotional activity in the first half of the year as the Company repositioned its collections businesses. 

Selling, general and administrative ("SG&A") expenses were well controlled throughout fiscal 2013 and totaled $280 million compared to $268 million in fiscal 2012.  The year over year increase reflects approximately $10 million in costs associated with strategic initiatives and non-cash asset impairment costs. In addition, store openings added incremental store expenses, which were partially offset by expense savings initiatives undertaken by the Company. 

2 of 4

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs