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Conn's, Inc., a specialty retailer of home appliances, consumer electronics, computers, and lawn and garden products, announced record earnings results for the fourth quarter and year ended Jan. 31, 2006.
Net income available for common stockholders for the fourth quarter increased 39.8 percent to U.S. $12.9 million compared to $9.2 million for the fourth quarter of last year. Diluted earnings per share available for common stockholders were $0.53 compared with $0.39 for the fourth quarter of last year. Total revenues for the quarter ended Jan. 31, 2006 increased 27 percent to $206.6 million compared with $162.7 million for the quarter ended Jan. 31, 2005. This increase in revenue included net sales increases of $43.2 million, or 30.5 percent, and increases from "Finance charges and other" of $709,000, or 3.4 percent. Same store sales (revenues earned in stores operated for the entirety of both periods) increased 22.6 percent for the fourth quarter of fiscal 2006.
Total revenues for the year ended Jan. 31, 2006 increased 23.9 percent to $702.4 million compared with $567.1 million for the year ended Jan. 31, 2005. This increase in revenue included net sales increases of $126.5 million, or 25.6 percent, and increases from "Finance charges and other" of $8.8 million, or 12.1 percent. Same store sales increased 16.9 percent for the year ended Jan. 31, 2006. Net income available for common stockholders for the year ended Jan. 31, 2006 increased 36.7 percent to $41.2 million compared to $30.1 million for the year ended Jan. 31, 2005. Diluted earnings per share available for the common stockholder increased 33.9 percent to $1.70 for the year ended Jan. 31, 2006 from $1.27 in the prior year.
During the year, the Company added six new stores to bring the store count to 56. By the end of January 2007, the company expects to operate approximately 62 to 64 stores.
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