Cabela’s Q4 revenue rises
Continued expansion in gross margins helped Cabela's (NYSE: CAB) post a better-than-expected quarterly profit, it said.
For the fourth quarter, the company earned $66.3 million, or $0.95 a share, compared with $16.6 million, or $0.24 a share, a year ago. Excluding items, the company earned $0.86 a share.
Revenue for the quarter rose 8.4 percent to $934 million. Comparable store sales increased 7.3 percent.
Tommy Millner, Cabela's CEO, said in a statement, “We saw improvements in every important financial metric. Revenue, margins, operating income, net income and return on capital were all strong.”
The company also noted it expects its profit to meet or exceed analysts' current estimates for 2011.
Duofold parent amends credit facility
HanesBrands (NYSE: HBI), parent of Duofold, said it has “favorably” amended its senior secured credit facility, which includes the company’s revolving credit facility, to reflect improved debt ratings.
It added that the amendment reduces the credit facility’s interest rate, extends the facility’s maturity date, and increases the flexibility of debt covenants and the use of excess cash flow.
In November 2010, the company issued $1 billion of 10-year fixed-rate notes, bringing the company’s portion of fixed-rate bond debt at favorable rates and long maturities to approximately 75 percent.
It added that the amendment extends the credit facility’s maturity two years until December 2015 and reduces the current interest rate on its revolver to LIBOR plus 3.25 percent, down from LIBOR plus 4.5 percent.
--Compiled by Wendy Geister
For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html.