Williams-Sonoma Beats Q4 Estimates (WSM)

3/22/2010- Williams-Sonoma WSM reported fiscal Q4 EPS of $0.86, ahead of consensus estimates of $0.74 cents per share.

Revenues for the quarter rose 8.1% year-over-year to $1.09 billion, topping consensus estimates of $1.07 billion.

Howard Lester, Chairman and Chief Executive Officer, commented, "While our fourth quarter results were substantially better than we expected given the continuing fragility of the economy, in 2010 we will continue to garner the benefits of the strategic and tactical initiatives that drove our success in the fourth quarter. It is gratifying to look back at these initiatives and see the amount of change we were able to execute in such a short period of time. It is, in fact, these initiatives that are allowing us to emerge today as a stronger company. On revenue growth of 8% or $82 million in the fourth quarter, we generated $61 million in incremental non-GAAP net income. Our fourth quarter non-GAAP diluted earnings per share grew from $0.31 to $0.86 and we ended the year with over $500 million in cash and virtually no debt."

Write to Chip Brian at cbrian@tradethetrend.com

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