Trans World Entertainment (TWMC) Reports Q2 EPS of $0.22

Trans World Entertainment (NASDAQ: TWMC) reported Q2 EPS of $0.22, versus $0.32 reported last year. Revenue for the quarter came in at $147.1 million, versus $122.7 million reported last year.

• In October 2016, the Company acquired etailz, Inc., a leading digital marketplace expert retailer. etailz uses a data driven approach to digital marketplace retailing utilizing proprietary software and ecommerce insight coupled with a direct customer relationship engagement to identify new distributors and wholesalers, isolate emerging product trends, and optimize price positioning and inventory purchase decisions. Results for etailz are included in our financial statements beginning October 17, 2016, the date of the closing of the acquisition (“Post Acquisition Period”).
• Total revenue increased 20% to $147.1 million compared to $122.7 million in the Fourth Quarter 2015, driven by $36.4 million in revenue from etailz.
• Net income was $7.9 million, or $0.22 per diluted share, for the 13 weeks ended January 28, 2017, compared to $9.9 million, or $0.32 per diluted share for the 13 weeks ended January 30, 2016.
• Operating income was $8.7 million compared to operating income of $10.2 million for the Fourth Quarter of 2015.
• Adjusted EBITDA (a non-GAAP measure) was $10.8 million compared to $11.8 million for the Fourth Quarter of 2015 (see note 1).
• Cash and cash equivalents as of January 28, 2017 was $28.0 million, compared to $104.3 million at January 30, 2016. The primary use of cash was $65 million related to the acquisition and operations of etailz. Additional uses of cash included investments in new and remodeled stores, technology enhancements and the chain wide rollout of new marketplace fixtures to support the shift in our merchandise assortment.

For earnings history and earnings-related data on Trans World Entertainment (TWMC) click here.

You May Also Be Interested In

• Citi cuts Micron stock target, sees memory chip prices peaking in 2Q27
• King Pharmaceuticals (KG) Misses Q2 EPS by 103c
• Hawaiian Electric Industries (HE) Misses Q2 EPS by 6c