EX-99.1 2 th10q.txt EXHIBIT 99.1, PRESS RELEASE [TOMMY HILFIGER LOGO] CONTACT: INVESTOR RELATIONS: PUBLIC RELATIONS: Valerie Martinez Kekst & Company: (212) 549-6780 Ruth Pachman/Wendi Kopsick (212) 521-4891/4867 FOR IMMEDIATE RELEASE TOMMY HILFIGER CORPORATION FILES QUARTERLY REPORT ON FORM 10-Q FOR FIRST QUARTER OF FISCAL 2006 HONG KONG, December 15, 2005 - Tommy Hilfiger Corporation (NYSE:TOM) today announced that it has filed its quarterly report on Form 10-Q for the first quarter of its fiscal year ending March 31, 2006 with the Securities and Exchange Commission. The full report on Form 10-Q is available on www.tommy.com. Select financial information for the first quarter ended June 30, 2005 is also contained in the attached tables. The Company continues to work towards filing its quarterly report on Form 10-Q for the second quarter ended September 30, 2005 in the near future. Tommy Hilfiger Corporation, through its subsidiaries, designs, sources and markets men's and women's sportswear, jeanswear and childrenswear. The Company's brands include Tommy Hilfiger and Karl Lagerfeld. Through a range of strategic licensing agreements, the Company also offers a broad array of related apparel, accessories, footwear, fragrance, and home furnishings. The Company's products can be found in leading department and specialty stores throughout the United States, Canada, Europe, Mexico, Central and South America, Japan, Hong Kong, Australia and other countries in the Far East, as well as the Company's own network of outlet and specialty stores in the United States, Canada and Europe. Tommy Hilfiger Corporation 9/F., Novel Industrial Building, 850-870 Lai Chi Kok Road, Cheung Sha Wan, Kowloon, Hong Kong. Tel: 2216 0668 Fax: 2371 2928 TOMMY HILFIGER CORPORATION SELECTED FINANCIAL INFORMATION STATEMENT OF OPERATIONS DATA (IN MILLIONS, EXCEPT PER SHARE AMOUNTS) (UNAUDITED) Three Months Ended June 30, ------------------------------------ 2005 2004 ------------------ --------------- NET REVENUE $ 319.9 $ 328.8 COST OF GOODS SOLD 159.5 183.4 ------------------ ------------ GROSS PROFIT 160.4 145.4 DEPRECIATION AND AMORTIZATION 17.5 17.1 OTHER SG&A EXPENSES 144.1 131.9 ------------------ --------------- TOTAL SG&A EXPENSES 161.6 149.0 LOSS FROM OPERATIONS (1.2) (3.6) INTEREST EXPENSE, NET 2.5 6.1 ------------------ --------------- LOSS BEFORE TAXES (3.7) (9.7) INCOME TAXES (1.0) (1.0) ------------------ --------------- NET LOSS (2.7) (8.7) ------------------ --------------- LOSS PER SHARE - BASIC NET LOSS $ (0.03) $ (0.10) ------------------ --------------- ------------------ --------------- WEIGHTED AVERAGE SHARES OUTSTANDING 91.9 91.3 ------------------ --------------- ------------------ --------------- LOSS PER SHARE - DILUTED NET LOSS $ (0.03) $ (0.10) ------------------ --------------- ------------------ --------------- WEIGHTED AVERAGE SHARES AND SHARE EQUIVALENTS OUTSTANDING 91.9 91.3 ------------------ --------------- ------------------ --------------- REVENUE BY SEGMENT U. S. Wholesale $ 115.8 $ 163.4 International Wholesale 64.3 47.2 Retail 121.7 103.3 Licensing 17.4 14.9 Other 0.7 ------------------ --------------- TOTAL $ 319.9 $ 328.8 ------------------ --------------- ------------------ --------------- Page 2 of 3 TOMMY HILFIGER CORPORATION SELECTED FINANCIAL INFORMATION BALANCE SHEET DATA (IN MILLIONS) June 30, June 30, March 31, 2005 2004 2005 --------- ---------- ---------- CASH AND CASH EQUIVALENTS $ 382.3 $ 436.6 $ 481.0 SHORT-TERM INVESTMENTS 37.8 31.1 40.7 RESTRICTED CASH 150.0 - - ACCOUNTS RECEIVABLE 76.0 77.9 153.9 INVENTORIES 249.4 240.6 203.3 WORKING CAPITAL 678.7 651.6 661.0 PROPERTY AND EQUIPMENT, NET 202.8 235.0 250.1 INTANGIBLE AND OTHER ASSETS 946.4 887.8 943.9 TOTAL ASSETS 2,133.7 1,986.1 2,158.1 CURRENT PORTION OF LONG-TERM DEBT 0.4 0.5 0.4 OTHER CURRENT LIABILITIES 305.5 211.1 302.7 LONG TERM DEBT 344.0 351.4 344.0 DEFERRED TAX AND OTHER LIABILITIES 192.3 222.8 186.7 TOTAL LIABILITIES 842.2 785.9 833.8 SHAREHOLDERS' EQUITY 1,291.5 1,200.2 1,324.3 Page 3 of 3