Perry Ellis International Reports Fourth Quarter & Full Fiscal 2014 Results
The company's fourth quarter 2014 results included a $42.9 million or $1.94 per share non-cash write down of certain intangible assets, primarily trade names, goodwill and certain store leaseholds. These impairments were the product of our internal review of non-core brands and businesses.
As reported under GAAP, the fiscal 2014 fourth quarter loss was $28.2 million or $1.91 per diluted share compared to earnings of $4.4 million or $0.28 per diluted share in the fourth quarter of fiscal 2013. On an adjusted basis, the fiscal 2014 fourth quarter earnings per diluted share were $0.06 as compared to adjusted earnings per diluted share of $0.50 in the fourth quarter of fiscal 2013. Adjusted earnings per diluted share exclude certain items as outlined in Table 1 Reconciliation of GAAP diluted earnings per share to adjusted diluted earnings per share.