A.C. Moore Had Record 4Q Sales

A.C. Moore Arts & Crafts (Nasdaq: ACMR), based in Blackwood, had record sales for the fourth quarter which ended December 31, 2001, of $122.6 million, an increase of 32% over the previous year's sales of $93.2 million. Same-store sales increased by 15%. Operating profit was $15.7 million for the quarter compared with $10.6 million in 2000, an increase of 49%. Net income for the quarter increased 47%, to $9.5 million or $1.20 per fully-diluted share, from a net income of $6.5 million or 87¢ per fully-diluted share for the comparable prior period. EBITDA for the quarter was $17.3 million compared with $11.7 million for fourth quarter 2000, an increase of 48%.

Sales for the year ended December 31, 2001, were $332.4 million, an increase of 27% over 2000 sales of $262.1 million. Same-store sales increased 8%. Operating profit was $16.1 million, up 50% from $10.8 million in 2000. Net income for the year 2001 increased 45%, to $9.5 million or $1.23 per fully-diluted share from net income of $6.6 million or $0.88 per fully-diluted share in 2000. EBITDA for the year was $21.4 million compared with $14.6 million in 2000, an increase of 46%.

Author: Business News New Jersey