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HONG KONG, Dec. 15 /PRNewswire-FirstCall/ -- Tommy Hilfiger Corporation
(NYSE: TOM) today announced that it has filed its quarterly report on Form
10-Q for the first quarter of its fiscal year ending March 31, 2006 with the
Securities and Exchange Commission. The full report on Form 10-Q is available
on http://www.tommy.com. Select financial information for the first quarter
ended June 30, 2005 is also contained in the attached tables.
The Company continues to work towards filing its quarterly report on Form
10-Q for the second quarter ended September 30, 2005 in the near future.
Tommy Hilfiger Corporation, through its subsidiaries, designs, sources and
markets mens and womens sportswear, jeanswear and childrenswear. The
Companys brands include Tommy Hilfiger and Karl Lagerfeld. Through a range
of strategic licensing agreements, the Company also offers a broad array of
related apparel, accessories, footwear, fragrance, and home furnishings. The
Companys products can be found in leading department and specialty stores
throughout the United States, Canada, Europe, Mexico, Central and South
America, Japan, Hong Kong, Australia and other countries in the Far East, as
well as the Companys own network of outlet and specialty stores in the United
States, Canada and Europe.
TOMMY HILFIGER CORPORATION
SELECTED FINANCIAL INFORMATION
BALANCE SHEET DATA
(In millions)
June 30, June 30, March 31,
2005 2004 2005
CASH AND CASH EQUIVALENTS $382.3 $436.6 $481.0
SHORT-TERM INVESTMENTS 37.8 31.1 40.7
RESTRICTED CASH 150.0 - -
ACCOUNTS RECEIVABLE 76.0 77.9 153.9
INVENTORIES 249.4 240.6 203.3
WORKING CAPITAL 678.7 651.6 661.0
PROPERTY AND EQUIPMENT, NET 202.8 235.0 250.1
INTANGIBLE AND OTHER ASSETS 946.4 887.8 943.9
TOTAL ASSETS 2,133.7 1,986.1 2,158.1
CURRENT PORTION OF LONG-TERM DEBT 0.4 0.5 0.4
OTHER CURRENT LIABILITIES 305.5 211.1 302.7
LONG TERM DEBT 344.0 351.4 344.0
DEFERRED TAX AND OTHER LIABILITIES 192.3 222.8 186.7
TOTAL LIABILITIES 842.2 785.9 833.8
SHAREHOLDERS EQUITY 1,291.5 1,200.2 1,324.3
TOMMY HILFIGER CORPORATION
SELECTED FINANCIAL INFORMATION
STATEMENT OF OPERATIONS DATA
(In millions, except per share amounts)
(Unaudited)
Three Months Ended June 30,
2005 2004
NET REVENUE $319.9 $328.8
COST OF GOODS SOLD 159.5 183.4
GROSS PROFIT 160.4 145.4
DEPRECIATION AND AMORTIZATION 17.5 17.1
OTHER SG&A EXPENSES 144.1 131.9
TOTAL SG&A EXPENSES 161.6 149.0
LOSS FROM OPERATIONS (1.2) (3.6)
INTEREST EXPENSE, NET 2.5 6.1
LOSS BEFORE TAXES (3.7) (9.7)
INCOME TAXES (1.0) (1.0)
NET LOSS (2.7) (8.7)
LOSS PER SHARE - BASIC
NET LOSS $(0.03) $(0.10)
WEIGHTED AVERAGE SHARES OUTSTANDING 91.9 91.3
LOSS PER SHARE - DILUTED
NET LOSS $(0.03) $(0.10)
WEIGHTED AVERAGE SHARES AND
SHARE EQUIVALENTS OUTSTANDING 91.9 91.3
REVENUE BY SEGMENT
U. S. Wholesale $115.8 $163.4
International Wholesale 64.3 47.2
Retail 121.7 103.3
Licensing 17.4 14.9
Other 0.7 -
TOTAL $319.9 $328.8
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