Express 2013 Annual Report Download - page 69
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Table of Contents
Summarized unaudited quarterly financial results for 2013 and 2012 follows:
Net sales (1)
$509,362
$ 490,075
$503,808
$715,880
Gross profit
$ 170,777
$152,547
$165,265
$229,118
Net income
$32,437
$16,909
$19,267
$47,926
Earnings per basic share
$0.38
$0.20
$0.23
$ 0.57
Earnings per diluted share
$0.38
$0.20
$0.23
$ 0.57
Net sales (1)
$497,221
$458,863
$469,458
$731,685
Gross profit
$188,767
$146,521
$151,538
$255,813
Net income
$42,073
$15,829
$ 17,422
$ 63,943
Earnings per basic share
$0.47
$0.18
$0.20
$ 0.75
Earnings per diluted share
$0.47
$0.18
$0.20
$ 0.75
(1) Previously disclosed Net sales results include a revision for the reclassification of sell-off revenue from Costs of goods sold, buying and occupancy costs to Net sales. There is no impact of the reclassification to Gross profit, Net
income, Earnings per basic share, or Earnings per diluted share.
None.
We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) or Rule 15d-15(e) promulgated under the Exchange Act of 1934) that are
designed to provide reasonable assurance that information required to be disclosed in our Exchange Act of 1934 reports is recorded, processed, summarized,
and reported within the time periods specified in the SEC's rules and forms and that such information is accumulated and communicated to our management,
including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. In designing
and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated,
can provide only reasonable, and not absolute, assurance of achieving the desired control objectives. In reaching a reasonable level of assurance, management
necessarily was required to apply its judgment in evaluating the cost benefit relationship of possible controls and procedures.
Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we conducted an
evaluation prior to filing this report of our disclosure controls and procedures. Based on this evaluation, our principal executive officer and our principal
financial officer concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of February 1, 2014.
Our management is responsible for designing, maintaining, and evaluating adequate internal control over financial reporting, as such term is defined in
Exchange Act Rule 13a-15(f) under the Exchange Act of 1934. Our internal control over financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of the Company's financial statements for external reporting purposes in
accordance with generally accepted accounting principles. We conducted an evaluation of the effectiveness of our internal control over financial reporting based
on
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