EX-99.1 2 ex-99120141211.htm EXHIBIT EX-99.1 2014.12.10


Exhibit 99.1

Vera Bradley, Inc.
Supplemental Statements of Income Fiscal 20141 
(in thousands, except per share amounts)
(unaudited)
 
 
Thirteen Weeks Ended
 
Fifty-Two Weeks Ended
 
 
May 4,
2013
 
August 3,
2013
 
November 2,
2013
 
February 1,
2014
 
February 1,
2014
Net revenues
 
$
121,559

 
$
123,969

 
$
128,949

 
$
156,419

 
$
530,896

Cost of sales
 
54,085

 
53,105

 
57,710

 
73,784

 
238,683

Gross profit
 
67,474

 
70,864

 
71,239

 
82,635

 
292,213

Selling, general, and administrative expenses
 
54,015

 
47,111

 
47,565

 
52,540

 
201,232

Other income
 
1,951

 
630

 
1,027

 
1,168

 
4,776

Operating income from continuing operations
 
15,410

 
24,383

 
24,701

 
31,263

 
95,757

Interest expense, net
 
204

 
127

 
139

 
101

 
571

Income from continuing operations before income taxes
 
15,206

 
24,256

 
24,562

 
31,162

 
95,186

Income tax expense
 
5,860

 
9,034

 
8,905

 
11,258

 
35,057

Income from continuing operations
 
9,346

 
15,222

 
15,657

 
19,904

 
60,129

Discontinued operations, net of income taxes
 
(157
)
 
(271
)
 
(431
)
 
(458
)
 
(1,317
)
Net income
 
$
9,189

 
$
14,951

 
$
15,226

 
$
19,446

 
$
58,812

Basic weighted-average shares outstanding
 
40,580

 
40,603

 
40,605

 
40,606

 
40,599

Diluted weighted-average shares outstanding
 
40,624

 
40,623

 
40,652

 
40,694

 
40,648

Net income (loss) per share - basic
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.23

 
$
0.37

 
$
0.39

 
$
0.49

 
$
1.48

Discontinued operations
 
—

 
(0.01
)
 
(0.01
)
 
(0.01
)
 
(0.03
)
Net income
 
$
0.23

 
$
0.37

 
$
0.37

 
$
0.48

 
$
1.45

Net income (loss) per share - diluted
 
 
 
 
 
 
 
 
 
 
Continuing operations
 
$
0.23

 
$
0.37

 
$
0.39

 
$
0.49

 
$
1.48

Discontinued operations
 
—

 
(0.01
)
 
(0.01
)
 
(0.01
)
 
(0.03
)
Net income
 
$
0.23

 
$
0.37

 
$
0.37

 
$
0.48

 
$
1.45

 
 
 
 
 
 
 
 
 
 
 
1On June 4, 2014, the Company entered into a five-year agreement with Mitsubishi Corporation and Look Inc. to import and distribute Vera Bradley products in Japan. As a result of moving to this wholesale business model, the Company exited its direct retail business in Japan in the third quarter. The supplemental schedule provided above recasts the Company's four quarters and year-to-date fiscal 2014 income statements to present the Japan results as discontinued operations.