Casual Living Staff -- Casual Living, January 9, 2006
Tuesday Morning Earnings Off
Tuesday Morning Corp. reported net sales for its fourth quarter ended Dec. 31, 2005 of $335.2 million, up less than one percent compared to $332.4 million in the fourth quarter of 2004. For the fiscal year, sales increased 3.8 percent to $931.8 million, up from $897.8 million in 2004. Comp-store sales were down 5.3 percent for the fourth quarter, and for the year dropped 4 percent.
The company projects 2005 fourth-quarter earnings to be approximately $0.84 per diluted share, compared to $0.88 for the fourth quarter of 2004. For fiscal year 2005, the company sees earnings to be $1.45 per diluted share. Excluding the $0.06 per diluted share lease accounting charge recorded in the first quarter of 2005, diluted earnings for fiscal 2005 would have been approximately $1.51 per share. Earnings per diluted share were $1.50 for fiscal 2004.