G-III Apparel Group, Ltd. Announces Third Quarter EPS of $2.16

G-III Apparel Group, Ltd. GIII today announced operating results for the third quarter of fiscal 2011 that ended October 31, 2010. The Company reported that, for the three months ended October 31, 2010, net sales increased by 23.8% to $450.0 million from $363.5 million in the third quarter last year. Net income for the third quarter of fiscal 2011 grew by 32.2% to $42.7 million compared to $32.3 million in the prior year's quarter. Net income per diluted share grew by 15.5% to $2.16 per diluted share from $1.87 per diluted share in the year-ago quarter. The Company noted that it had 19.8 million weighted shares outstanding for the quarter compared to 17.2 million weighted shares outstanding for the third quarter last year.