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Big Lots Inc. Message Board

  • bluecheese4u bluecheese4u Aug 23, 2012 9:06 AM Flag

    Big Lots Reports Second Quarter EPS From Continuing Operations of $0.36 Per Diluted Share

    Big Lots Reports Second Quarter EPS From Continuing Operations of $0.36 Per Diluted Share


    Company Provides Updated EPS and Cash Flow Guidance


    COLUMBUS, Ohio, Aug. 23, 2012 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today reported income from continuing operations of $22.1 million, or $0.36 per diluted share, for the second quarter of fiscal 2012 ended July 28, 2012. This compares to income from continuing operations of $35.7 million, or $0.50 per diluted share, for the second quarter of fiscal 2011.

    For the year-to-date period ended July 28, 2012, income from continuing operations totaled $62.9 million, or $1.00 per diluted share. As previously disclosed in our March 2, 2012, press release, we incurred an after-tax charge of $3.4 million, or $0.05 per diluted share, during the first quarter of fiscal 2012 related to an inventory accounting change associated with the successful implementation of new retail inventory systems. Excluding this non-recurring, non-cash charge, adjusted income from continuing operations for the year-to-date period ending July 28, 2012 totaled $66.3 million, or $1.05 per diluted share (non-GAAP), compared to income from continuing operations of $88.2 million, or $1.21 per diluted share, for the same period in fiscal 2011. Discontinued operations activity was minimal for the second quarter and year-to-date period of fiscal 2012 and the corresponding periods in fiscal 2011.

    SECOND QUARTER HIGHLIGHTS
    •Income from continuing operations of $0.36 per diluted share versus income from continuing operations of $0.50 per diluted share last year
    •Opened 18 new stores
    •Invested $149 million to repurchase 4 million shares, or 6% of our outstanding shares, as part of our $200 million share repurchase program announced in May 2012

    http://ir.biglotscorporate.com/phoenix.zhtml?c=61042&p=irol-newsArticle&ID=1727917&highlight=

 
BIG
47.25+0.10(+0.21%)Aug 22 4:02 PMEDT

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