New York & Company Reports Q4 EPS of $0.13f vs. $0.17

New York & Company, Inc. NWY today announced results for the fourth quarter.

Net income from continuing operations in the fourth quarter of fiscal year 2010 increased to $14.9 million, or $0.24 per diluted share, which includes favorable non-operating tax adjustments of $0.04 per diluted share. This compares to the Company's previous guidance range of net income from continuing operations of $0.15 to $0.19 per diluted share on a GAAP basis. This also compares to net income from continuing operations in the prior year fourth quarter of $2.5 million, or $0.04 per diluted share, which included a previously disclosed non-operating loss of $0.02 per diluted share related to restructuring charges.

On a non-GAAP basis, excluding non-operating adjustments and normalizing taxes to eliminate unusual items and valuation allowance adjustments, the Company's adjusted net income from continuing operations for the fourth quarter of fiscal year 2010 was $7.7 million, or $0.13 per diluted share. This compares to adjusted net income from continuing operations of $3.7 million, or $0.06 per diluted share, for the fourth quarter of fiscal year 2009

For the fourth quarter of fiscal year 2010, net sales were $303.2 million, as compared to $298.0 million for the fourth quarter of fiscal year 2009.