Cherokee Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended October 28, 2017; Provides Earnings Guidance for the Fiscal Years of Year Ending February 3, 2018 and February 2, 2019
For the nine months, the company reported total revenues of $36,107,000 compared to $25,646,000 a year ago. Operating loss was $4,730,000 compared to operating income of $5,597,000 a year ago. Loss before income taxes was $9,739,000 compared to income before income taxes of $5,161,000 a year ago. Net loss was $10,404,000 compared to net income of $3,225,000 a year ago. Net loss per basic and diluted common share attributable to common stockholders was $0.79 compared to net income per basic and diluted common share attributable to common stockholders of $0.37 a year ago. Non-GAAP operating income was $1,440,000 compared to $9,410,000 a year ago. Non-GAAP net loss was $2,221,000 or $0.17 per diluted share compared to non-GAAP net loss of $5,608,000 or $0.64 per diluted share a year ago. LBITDA was $3,414,000 compared to EBITDA of $6,673,000 a year ago. Adjusted EBITDA was $2,756,000 compared to $10,486,000 a year ago.
The company is adjusting its previously issued guidance for the fiscal year 2018 ending February 3, 2018 as gross profit is expected to be in the range of $36 million to $38 million. Adjusted EBITDA is expected to be in the range of $7 million to $9 million.
The company is providing guidance for the fiscal 2019 year ending February 2, 2019 as gross profit is anticipated to be in the range of $33 million to $37 million. Adjusted EBITDA is anticipated to be in the range of $7 million to $9 million.