LONDON, UK / ACCESSWIRE / January 05, 2018 / Active-Investors.com has just released a free earnings report on Vera Bradley, Inc. (NASDAQ: VRA). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=VRA. The Company posted its financial results on December 06, 2017, for the third quarter fiscal 2018. The handbag and accessories company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Vera Bradley most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For three months ended October 31, 2017, Vera Bradley's revenues decreased 9.9% to $114.10 million from $126.66 million in Q3 FY17. The Company's revenues surpassed analysts' expectations of $115.3 million.
For the reported quarter, the Company's gross profit decreased 12.5% to $63.83 million from $72.91 million in Q3 FY17. During Q3 FY18, Vera Bradley's gross margin decreased 190 basis points to 55.9% of revenue from 57.6% of revenue in Q3 FY17.
For the reported quarter, the Company's operating income was $462,000, compared to $11.40 million in Q3 FY17. During Q3 FY18, Vera Bradley's operating margin decreased 860 basis points to 0.4% of revenue from 9.0% of revenue in Q3 FY17. For the reported quarter, the Company's adjusted operating income increased 8.2% to $13.03 million from $12.04 million in Q3 FY17. Vera Bradley's adjusted operating margin increased 190 basis points to 11.4% of revenue in Q3 FY18 from 9.5% of revenue in Q3 FY17.
During Q3 FY18, Vera Bradley's earnings before tax (EBT) was $584,000 compared to $11.34 million in the same period last year.
For the reported quarter, Vera Bradley's net income decreased $359,000 from $8.78 million in Q3 FY17. During Q3 FY18, the Company's diluted EPS decreased 95.8% to $0.01 from $0.24 in the same period last year. Vera Bradley's adjusted net income increased 9.8% to $8.30 million on a y-o-y basis in Q3 FY18 from $7.56 million in Q3 FY17. During Q3 FY18, the Company's adjusted diluted EPS increased 9.5% to $0.23 on a y-o-y basis from $0.21 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of negative $0.14.
Vera Bradley's Segment Details
Direct - During Q3 FY18, the Company's direct segment's revenue decreased 3.4% to $83.2 million from $86.1 million in the same period last year. For the reported quarter, the segment's comparable sales growth was negative 7.4%. The decrease was due to year-over-year declines in store and ecommerce traffic. The segment's operating margin decreased 640 basis points to 13.5% of revenue in Q3 FY18 from 19.9% of revenue in Q3 FY17. For the reported quarter, the segment's adjusted operating margin increased 60 basis points to 21.2% of revenue from 20.6% of revenue in Q3 FY17.
Indirect - During Q3 FY18, the indirect segment's revenue decreased 23.8% to $30.9 million from $40.6 million in the same period last year. For the reported quarter, the segment's operating margin decreased 770 basis points to 34% of revenue from 41.7% of revenue in Q3 FY17. The segment's adjusted operating margin decreased 210 basis points to 39.6% of revenue in Q3 FY18 from 41.7% of revenue in Q3 FY17.
Balance Sheet
As on October 28, 2017, Vera Bradley's cash and cash equivalents decreased 17.5% to $71.27 million from $86.38 million on January 28, 2017.
For the reported quarter, the Company's net accounts receivable increased 17.5% to $27.38 million from $23.31 million in Q4 FY17. For the reported quarter, the Company's accounts payable and accrued expenses decreased 35.6% to $21.00 million from $32.62 million in Q4 FY17.
In the first nine months of 2018, the Company's net cash provided by operating activities decreased 71.7% to $7.49 million from $26.49 million in the same period last year.
Outlook
For Q4 FY18, the Company expects revenue to be in the range of $127 million to $132 million and diluted EPS to be in the band of $0.30 to $0.33.
Stock Performance Snapshot
January 04, 2018 - At Thursday's closing bell, Vera Bradley's stock was slightly up 0.17%, ending the trading session at $11.83.
Volume traded for the day: 360.19 thousand shares.
Stock performance in the last month - up 37.40%; previous three-month period - up 42.19%; and past six-month period - up 22.46%
After yesterday's close, Vera Bradley's market cap was at $422.21 million.
Price to Earnings (P/E) ratio was at 219.07.
The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Footwear & Accessories industry. This sector was up 0.7% at the end of the session.
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