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Big Lots Inc. Message Board

  • bluecheese4u bluecheese4u Dec 4, 2012 9:48 AM Flag

    Big Lots Reports Third Quarter Results

    Big Lots Reports Third Quarter Results

    Company Updates Full Year Guidance

    COLUMBUS, Ohio, Dec. 4, 2012 /PRNewswire/ -- Big Lots, Inc. (NYSE: BIG) today reported a loss from continuing operations of $6.0 million, or $0.10 per diluted share, for the third quarter of fiscal 2012 ended October 27, 2012. This compares to guidance of a loss from continuing operations of $0.20 to $0.30 per diluted share for the third quarter of fiscal 2012, and income from continuing operations of $4.2 million, or $0.06 per diluted share, for the third quarter of fiscal 2011.

    For the year-to-date period ended October 27, 2012, income from continuing operations totaled $56.9 million, or $0.93 per diluted share. As previously disclosed in our March 2, 2012, press release, we incurred an after-tax charge of $3.4 million 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 ended October 27, 2012 totaled $60.3 million, or $0.98 per diluted share (non-GAAP), compared to income from continuing operations of $92.5 million, or $1.31 per diluted share, for the same period in fiscal 2011. Discontinued operations activity was minimal for the third quarter and year-to-date period of fiscal 2012 and the corresponding periods in fiscal 2011.

    THIRD QUARTER HIGHLIGHTS
    •Loss from continuing operations of $0.10 per diluted share versus income from continuing operations of $0.06 per diluted share last year
    •Opened 27 new stores
    •Invested $51 million to repurchase 1.6 million shares, completing the $200 million share repurchase program announced in May 2012

    irDOTbiglotscorporateDOTcom/phoenix.zhtml?c=61042&p=irol-newsArticle&ID=1764048&highlight=

 
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