Build-A-Bear Workshop Reports Q4 EPS of $0.44 vs. $0.26

Build-A-Bear Workshop, Inc. BBW today reported results for the 2010 fourth quarter. Total revenues were $125.8 million compared to $123.1 million in the fiscal 2009 fourth quarter, a 2.2% increase. Net income was $8.3 million, or $0.44 per diluted share. Net income for the fourth quarter of fiscal 2010 included the following costs; $0.8 million, or $0.04 per diluted share, in costs related to the closure of its operations in France and $0.5 million, or $0.02 per diluted share, of store asset impairment charges. These costs were more than offset by a $2.6 million, or $0.14 per diluted share, benefit for the positive adjustment to deferred revenue related to the loyalty program. This compares to fiscal 2009 fourth quarter net loss of $0.9 million or $0.05 per share, which included the following non-cash charges; $3.9 million or $0.20 per diluted share in asset impairment costs and $2.7 million or $0.14 per diluted share in losses associated with the Company's investment in Ridemakerz, LLC.