Destination Maternity (DEST) Reports Q4 Loss of $0.23; Comps Fall 7.8%

Destination Maternity (NASDAQ: DEST) reported Q4 EPS of ($0.23), versus ($0.11) reported last year. Revenue for the quarter came in at $100.16 million, versus $118.29 million reported last year.

• Comparable sales decreased 7.8% following a 3.5% decline for the fourth quarter of fiscal 2015;
• Gross margin improved 120 basis points to 51.0% from 49.8% in the fourth quarter of fiscal 2015;
• SG&A declined $6.9 million to $53.9 million, a decrease of 11.3% from the fourth quarter of fiscal 2015;
• Pretax loss was $7.8 million, compared to pretax loss of $5.0 million in the fourth quarter of fiscal 2015;
• GAAP net loss was $32.8 million, or $2.39 per share, and included a $27.8 million non-cash income tax charge, or $2.02 per share, related to a valuation allowance against net deferred tax assets. This compared to a GAAP net loss of $3.1 million, or $0.22 per share, for the fourth quarter of fiscal 2015;
• Adjusted net loss was $3.2 million, or $0.23 per share, compared to adjusted net loss of $1.5 million, or $0.11 per share for the fourth quarter of fiscal 2015;
• Adjusted EBITDA before other charges was $2.1 million compared to $3.2 million in the prior year quarter.

For earnings history and earnings-related data on Destination Maternity (DEST) click here.

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