Stellar Quarter, Year for Sharper Image Catalog

Sales of proprietary products carried double-digit sales and earnings gains for gadgets cataloger/retailerThe Sharper Image (Nasdaq:SHRP). For the fourth quarter ended Jan. 31, total revenue for the San Francisco-based marketer increased 32%, to $220.7 million, compared with last year’s $166.6 million. Catalog sales were up 30%, to $50.3 million, from $38.6 million for last year’s fourth quarter. Total store sales increased 28%, to $130.5 million from $102.0 million in the prior year; comparable store sales increased 13%. Internet sales, including auction sales, increased 61% to $33.1 million from last year’s fourth quarter $20.5 million. The fourth quarter’s record net income of $16.8 million, is a 46% increase over last year’s net income of $11.6 million.

For the year ended Jan. 31, total revenue increased 32% to $522.0 million, from last year’s $396.2 million. Catalog sales increased 40%, to $141.4 million from the prior year’s $101.3 million. Total store sales increased 28% to $296.1 million, from $232.1 million; comparable store sales increased 14%. Internet sales, excluding auction sales, increased 53%. Internet sales, including auction sales, increased 40% to $69.5 million from last year’s $49.8 million. The net income of $15.4 million for the year, is up $14.1 million, from last year’s net income of $1.3 million.

Sharper Image Design products and Sharper Image branded merchandise account for more than 75% of total sales. The strong sales gains for the year were achieved at a gross margin rate of 55.9%, compared with last year’s gross margin rate of 52.1%.

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