The Buckle, Inc. reported net income for the fiscal quarter ended Oct. 31, 2009 was $33.3 million, or 73 cents per share on a revenue gain of 9.8% to $231.2 million. Comps sales for the 13-week period rose 4.3%.


 

Net sales for the 13-week fiscal quarter ended Oct. 31, 2009 increased 9.8% to $231.2 million from net sales of $210.6 million for the prior year 13-week fiscal quarter ended Nov. 1, 2008. Comparable store net sales for the 13-week period ended Oct. 31, 2009 increased 4.3% from comparable store net sales for the prior period. Online sales, which are not included in comparable store sales, increased 41.9% to $12.5 million.


Net sales for the 39-week fiscal period ended Oct. 31, 2009 increased 15.4% to $623.8 million from net sales of $540.6 million for the prior year 39-week fiscal period ended Nov. 1, 2008. Comparable store net sales the period increased 9.7% from comparable store net sales for the year earlier period. Online sales increased 50.8% to $34.3 million.

 

Net income for the third quarter of fiscal 2009 was $33.3 million, or $0.73 per share (71 cents per share on a diluted basis), compared with $29.1 million, or 64 cents per share (62 cents per share on a diluted basis) for the third quarter of fiscal 2008.


Net income for the 39-week fiscal period ended Oct. 31, 2009 was $85.2 million, or $1.87 per share ($1.83 per share on a diluted basis), compared with $70.1 million, or $1.55 per share ($1.50 per share on a diluted basis) for the 39-week fiscal period ended Nov. 1, 2008.

THE BUCKLE, INC.

STATEMENTS OF INCOME
(Amounts in Thousands Except Per Share Amounts)
(Unaudited)


                          Thirteen Weeks Ended     Thirty-nine Weeks Ended
                        ————————- ————————-
                         October 31,  November 1,  October 31,  November 1,
                            2009         2008         2009         2008

SALES, Net of returns
and allowances         $    231,238 $   210,567  $    623,841 $   540,632

COST OF SALES (Including
buying, distribution,
and occupancy costs)        129,121     118,762       352,743     312,937
                        ———— ———–  ———— ———–

     Gross profit            102,117      91,805       271,098     227,695
                        ———— ———–  ———— ———–

OPERATING EXPENSES:
  Selling                     43,017      39,415       118,121     104,454
  General and
   administrative              7,427       7,000        21,452      17,172
                        ———— ———–  ———— ———–
                              50,444      46,415       139,573     121,626
                        ———— ———–  ———— ———–

INCOME FROM OPERATIONS        51,673      45,390       131,525     106,069

OTHER INCOME, Net              1,192       1,794         3,651       6,163
UNREALIZED LOSS ON
SECURITIES                        –      (1,800)            –      (1,800)
                        ———— ———–  ———— ———–

INCOME BEFORE INCOME
TAXES                        52,865      45,384       135,176     110,432

PROVISION FOR INCOME
TAXES                        19,560      16,308        50,015      40,363
                        ———— ———–  ———— ———–

NET INCOME              $     33,305 $    29,076  $     85,161 $    70,069
                        ============ ===========  ============ ===========


EARNINGS PER SHARE:
  Basic                 $       0.73 $      0.64  $       1.87 $      1.55
                        ============ ===========  ============ ===========

  Diluted               $       0.71 $      0.62  $       1.83 $      1.50
                        ============ ===========  ============ ===========