Net income up 250% at Perry Ellis
Florida-based sportswear and apparel company Perry Ellis has reported improved results for the third quarter and nine months ended October 30.
Total revenues increased by 13% to $201.3 million during the three-month period compared with $178.6 million during the third quarter of 2009. Gross profit for the quarter was $71.6 million, up 17% or $10.6 million year-on-year.
For the nine months ended October 30, total revenue increased by 5% to $583.4 million from $557.8 million during the prior-year period. Net income grew almost 250% to $16.4 million compared with $4.7 million last year.
"We are extremely pleased with our results through the third quarter of fiscal 2011. We have successfully executed in the core platforms as well as the new business initiatives we launched coming into the year. We continue to remain optimistic as to performance of our brands and product categories going into the holiday season," said George Feldenkries, chairman and chief executive officer of Perry Ellis International.
