Cabela's Inc. Reports Q4 EPS of $0.86 vs. $0.79

Cabela's Incorporated CAB today reported financial results for its fourth fiscal quarter and fiscal year ended January 1, 2011. The fourth quarter of 2010 included 13 weeks compared to the fourth quarter of 2009, which included 14 weeks. For the quarter, on a like calendar basis, adjusted for divestitures, total revenue increased 8.4% to $934 million; retail store revenue increased 11.4% to $479 million; direct revenue increased 0.5% to $386 million; and financial services revenue increased 27.8% to $58 million. For the quarter, comparable store sales increased 7.3%. On a reported basis, total revenue increased 1.7%, retail store revenue increased 3.2% and direct revenue decreased 5.1%. A detailed reconciliation is provided at the end of this release. For the quarter, net income was $59.9 million compared to $52.4 million in the year ago quarter and diluted earnings per share were $0.86 compared to $0.77 in the year ago quarter, each excluding impairment and other special items. For the quarter, the Company reported GAAP net income of $66.3 million and diluted earnings per share of $0.95 as compared to GAAP net income of $16.6 million and diluted earnings per share of $0.24 in the year ago quarter.