Ulta Announces Third Quarter EPS of $.23

Ulta Salon, Cosmetics & Fragrance, Inc. ULTA, today announced financial results for the third quarter:

• Net sales increased 19.4% to $339.2 million from $284.0 million in the third quarter of fiscal 2009;
• Comparable store sales (sales for stores open at least 14 months) increased 12.2% compared to an increase of 1.5% in the third quarter of fiscal 2009;
• Gross profit increased 280 basis points to 35.1% from 32.3% in the third quarter fiscal 2009;
• Operating income increased 65.4% to $24.3 million, or 7.2% of net sales, compared to $14.7 million, or 5.2% of net sales, in the third quarter of fiscal 2009;
• Net income increased 67.9% to $14.2 million compared to $8.5 million in the third quarter of fiscal 2009; excluding the non-recurring compensation charge, net income increased 78%;
• Income per diluted share increased to $0.23, including $0.02 per diluted share related to the non-recurring compensation charge. Income per diluted share was $0.25, excluding the non-recurring compensation charge. This compares to $0.14 in the third quarter of fiscal 2009.