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Boot Barn Holdings, Inc. Announces Fourth Quarter and Fiscal Year 2017 Financial Results
IRVINE, California June 1, 2017Boot Barn Holdings, Inc. (NYSE: BOOT) today announced its financial results for the fourth quarter and fiscal year ended April 1, 2017.
For the fourth quarter ended April 1, 2017:
· Net sales increased 9.1% to $163.0 million;
· Consolidated same store sales declined 0.9%;
· GAAP net income was $2.6 million, or $0.10 per diluted share, compared to $1.0 million, or $0.04 per diluted share in the prior-year period. Adjusted net income was $3.3 million, or $0.12 per diluted share, compared to adjusted net income of $2.5 million, or $0.09 per diluted share in the prior-year period;
· Two new stores were opened.
For the fiscal year ended April 1, 2017:
· Net sales increased 10.7% to $629.8 million;
· Consolidated same store sales increased 0.3%;
· GAAP net income was $14.2 million, or $0.53 per diluted share, compared to $9.9 million, or $0.37 per diluted share in the prior-year period. Adjusted net income was $14.9 million, or $0.55 per diluted share, compared to adjusted net income of $18.7 million, or $0.69 per diluted share in the prior-year period;
· Twelve new stores were opened and one store was closed, bringing the total count at year-end to 219 stores.
· Acquired certain assets of Country Outfitter, including the countryoutfitter.com domain name, customer list and social media assets for $1.8 million of cash and assumed liabilities;
· Increased the capacity under the revolving credit facility $10 million to $135 million and extended the maturity date for two additional years;
· Amended the financial covenant under the term loan facility to increase the maximum net leverage ratio requirements.
The following information was filed by Boot Barn Holdings, Inc. (BOOT) on Thursday, June 1, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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