Jo-Ann Stores Announces Results for Fourth Quarter and Fiscal 2006.
Business Wire › March 06, 2006
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Jo-Ann Stores Announces Results for Fourth Quarter and Fiscal 2006.
HUDSON, Ohio -- Jo-Ann Stores, Inc. (NYSE: JAS) today announced financial results for its fiscal 2006 fourth quarter and full year ended January 28, 2006. Net loss for the fourth quarter of fiscal 2006 was $18.0 million, or $0.78 loss per diluted share, compared with net income of $32.3 million, or $1.40 per diluted share in the prior year.
Results for the fourth quarter include a charge of $27.1 million, or $1.17 per share, for goodwill impairment, which is discussed below. Excluding the goodwill charge, pro forma net earnings for the fourth quarter of fiscal 2006 were $9.1 million, or $0.39 per diluted share, versus $32.3 million, or $1.40 per diluted share, in the prior year fourth quarter. Net sales for the fourth quarte...See the full content of this document
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