bebe stores Reports Q2 EPS of $.02 vs. $.02

bebe stores, inc. BEBE today announced unaudited financial results for the second quarter ended January 1, 2011. In the second quarter of fiscal 2011, the Company closed the remaining 25 PH8 stores, with the entire PH8 division results being presented as discontinued operations for all periods herein. Net sales from continuing operations for the second quarter of fiscal 2011 were $136.2 million, up 3.3% from $131.9 million reported for the second quarter a year ago. As previously reported, comparable store sales for the quarter ended January 1, 2011 were flat compared to a decrease of 22.5% in the prior year. Operating income from continuing operations for the second quarter of fiscal 2011 was $2.5 million or 1.8% of net sales, compared to $9.9 million or 7.5% of net sales for the same period of the prior year. During the quarter the company had net earnings from continuing operations of $1.6 million or $0.02 per share on 84.1 million diluted shares outstanding compared to $6.9 million or $0.08 per share on 86.8 million diluted shares outstanding for the same period of the prior year.