Department 56 Reports Third Quarter 2002 Results; Maintains 2002 EPS Outlook of $2.00 to $2.10.
Business Wire › October 23, 2002
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Department 56 Reports Third Quarter 2002 Results; Maintains 2002 EPS Outlook of $2.00 to $2.10.
Business Editors
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Oct. 23, 2002 Department 56 (NYSE:DFS), a leading collectible and giftware company, today reported revenue and earnings for the third quarter and nine months ended September 28, 2002. Revenues for the third quarter of $58.6 million were down 3% compared to $60.1 million in 2001. Revenues for the first nine months of $150.9 million were up 4% compared to $144.4 million in 2001. Net income for the third quarter of 2002 was $9.0 million or $0.69 per share compared to $6.5 million or $0.50 per share in the prior year. Net income for the first nine months of 2002, before the cumulative effect of adopting SFAS No. 142, was $23.8 million or $1.81 per share compared to $13.1 million or $1.01 per share in the prior year. Three significant items affect the comparability of the Company's earnings during the first nine months of 2002 with those of 2001. First, as previously reported, the Company recorded $5.4 million of other income during the first...See the full content of this document
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