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Author: originalupndn Big red star, 1000 posts Old School Fool Ticker Guide Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 114  
Subject: Re: KORS Page 31 Beta Edition Date: 10/5/2012 11:37 AM
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Page 31 you ask, MK started in 1981, so why not.
I'll add some quarterly info in the next few days.
Enjoy, JT

Year End March 31-April 3

Statement of Operations: 2008 2009 2010 2011 2012 2013

Net sales 296,176 377,058 483,452 757,800 1,237,100 Co. Estimate
Royalty revenue 16,479 20,016 24,647 45,539 65,154 9/20/12
_______________________________________________________________________________________________
Total revenue 312,655 397,074 508,099 803,339 1,302,254 1.85-1.95 Billion
Cost of goods sold 165,947 208,283 241,365 357,274 549,158 $1.39-1.41 /sh
_______________________________________________________________________________________________
Gross profit 146,708 188,791 266,734 446,065 753,096 was $1.32-1.34

SG&A 108,407 147,490 191,717 279,822 464,568
Depreciation 10,289 14,020 18,843 25,543 37,554
Impairment 1,844 3,043 -- 3,834 3,292
_______________________________________________________________________________________________
Total operating expenses 120,540 164,553 210,560 309,199 505,414
_______________________________________________________________________________________________
Income from operations 26,168 24,238 56,174 136,866 247,682

Interest expense 2,760 1,600 2,057 1,861 1,495
Foreign currency loss(income) (147) 391 (830) 1,786 (2,629)
Income before provision
for income taxes 23,555 22,247 54,947 133,219 248,816
Provision for income taxes (36,562) 9,208 15,699 60,713 101,452
_______________________________________________________________________________________________
Net income 60,117 13,039 39,248 72,506 147,364
Net inc. to pref shareholders 12,959 2,811 8,460 15,629 21,227
_______________________________________________________________________________________________
Net inc. ordinary shareholders 47,158 10,228 30,788 56,877 126,137
Average Shares:
Basic 140,554,377 140,554,377 140,554,377 140,554,377 158,258,126
Diluted 179,177,268 179,177,268 179,177,268 179,177,268 189,299,197
Net EPS:
Basic $0.34 $0.07 $0.22 $0.40 $0.80
Diluted $0.34 $0.07 $0.22 $0.40 $0.78

_______________________________________________________________________________________________

Retail Store Count 48 74 106 166 237
Same Store Sales Growth(SSS) 17.5% 6.3% 19.2% 48.2% 39.2%

Wholesale Doors 1,313 1,600 2,032 2,677
Increase 287 432 645
Percentage Increase 22% 27% 32%

Quarterly Info

Q1 2011 Rev 151,516 Gross Profit 82,354 Inc from Op 17,180 Net 11,752
Q2 2011 189,369 102,827 32,122 15,591


12/31/10 4/02/11 7/02/11 9/30/11 12/31/11 3/31/12 6/30/12 9/30/12
Q3/2011 Q4/2011 Q1/2012 Q2/2012 Q3/2012 Q4/2012 Q1/2013 Q2/2013

Net Sales 208,824 226,536 232,282 353,988 362,905 397,370 Company
Royalty Rev 13,628 13,467 10,844 19,618 17,085 17,495 Estimate:
____________________________________________________________________________________________________________________
Total Revenue 222,452 240,003 243,126 305,532 373,606 379,990 414,865 510-520
Cost of Goods 95,688 105,882 106,157 151,701 160,868 163,865 38-40 Cents

Gross Profit 126,764 134,121 136,969 175,100 221,905 219,122 251,000 was 33-35
Total Operating Exp 81,833 91,487 91,993 157,318 140,281 139,057
Income from Operations 44,931 42,634 44,976 59,278 64,587 78,841 111,943
Interest Exp 468 163 671 452 383 435
Foreign Currency (income) (2,421) 4,594 1,507 (2,191) 1,291 (375)
____________________________________________________________________________________________________________________
Income before Taxes 46,884 37,877 42,798 66,326 77,167 111,883
Income Taxes 19,094 20,504 18,683 27,295 33,555 43,238
____________________________________________________________________________________________________________________
Net Income 27,790 17,373 24,115 40,606 39,031 43,612 68,645
Net to Pref. Shares 5,990 3,745 5,198 7,032 - -
____________________________________________________________ More here _______________________________________
Net Income to Common 21,800 13,628 18,917 with Q2 31,999 43,612 68,645
Shares Outstanding Report
Basic 140,554 same same 11/13/12 154,738 191,184 192,790
Diluted 179,177 same same 193,584 196,855 199,391

Net per share
Basic $0.16 $0.10 $0.13 $0.23 ?? $0.21 $0.23 $0.36
Diluted $0.16 $0.10 $0.13 $0.23 ?? $0.20 $0.22 $0.34

____________________________________________________________________________________________________________________

Income less Foreign -2,421 +4,594 +1,979 -1,345 +2,231 -3,278
Currency Adjustment $25,448 22,071 26,094 37,686 45,843 65,367

Balance Sheet Items 4/2/11 7/2/12 12/31/11 3/31/12 6/30/12
Shareholders equity 125,320 151,413 375,261 456,327 535,650
Goodwill & Intangibles 28,557 29,454 28,557 28,151 27,689
Property & Equipment 119,323 120,731 155,728 170,755 180,317

Inventory 117,173 122,015 160,800 187,413 246,601

Revenue by Region
North America 213,795 222,927 225,768 343,432 339,332 377,149
Europe 27,590 16,451 15,864 27,590 36,627 33,387
Other Regions 259 625 1,494 2,584 4,031 4,329

Revenue by Segment
Retail 109,067 95,489 122,344 199,376 172,187 215,004
Wholesale 99,757 131,047 109,938 154,612 190,718 182,366
Licensing 13,628 13,467 10,844 19,618 17,085 17,495
____________________________________________________________________________________________________________________

12/14/11 IPO Priced @ $20 on 54,280,000 shares

Q3 2012 / Dec 31, 2011

Sales 373.6 up 68% from 222.5
Retail 199.4 up 82.8%
28 new stores, 75 in 12 mo., total 231 vs 156
Wholesale 154.6 up 55%
Royalty 19.6 up 44%
Gross Income 221.9 up 75.1%
Gross % of Sales 59.4 vs 57%
Operating Income 64.6 up 43.7% vs 44.9
Op. In. % of Sales 17.3% vs 20.2%
Non GAAP 85.7 = 22.9% of Sales (IPO costs)
Net Income 39M vs 27.8M
Earnings per share .20 vs .16
Share Count 193.6M vs 179.2M
Non GAAP .28
Same Store Sales
N America +38%
Europe +34.4% (Rev +200%)

Income from Operations Breakdown
Retail 34,711 17.4% of Sales vs 27,148 24.9%
Wholesale 17,778 11.5% of Sales vs 10,641 10.7%
Licensing 12,098 61.7% of Sales vs 7,142 52.4%

Forecast: 350-355M 10-12 cents on 197M shares 40% Tax
Trading Range: $24.20 to $27.41
________________________________________________________

3/9/12 Files Reg. for Secondary of 28,750,000 shares
3/19/12 Updates guidance to 350-360M and 14-16 cents, 79-81 cents for the year, non GAAP
3/23/12 Secondary is priced at $47
________________________________________________________

Q4 2012 6/12/12

Sales 380 up 58.3% from 240
Retail 172.2 up 80.3% from 95,489
6 new stores, 71 in 12 mo., total 237 vs 166
+64 Licensed stores = 301 total. N Amer 191, Intl 46
Wholesale 190.7 up 45.5%
Royalty 17.1 up 26.9%
Gross Income 219.1 up 63.4%
Gross % of Sales 57.7% vs 55.9%
Operating Income 78.8 up 84.9% vs 42.6
Op. In. % of Sales 20.7% vs 17.8%
Net Income 43.6 vs 17.4
Earnings per share .22 vs .10
Share Count 196.9 vs 179.2
Same Store Sales
N America +37.2%
Europe +13.6% (Rev +122.6%)
Licensing +26.9%

Income from Operations Breakdown
Retail 33,959 19.7% of Sales vs 14,707 15.4%
Wholesale 34,477 18.1% of Sales vs 16,386 12.5%
Licensing 10,405 61% of Sales vs 11,541 85.7%

Fiscal 2012 Totals

Sales 1.3B up 62.1% from 803.3
Retail 626.9 up 82.1%
71 new stores
Same Store Sales +39.2%
Wholesale 610.2 up 47.5% from 413.6
Royalty 65.2 up 43.1% from 45.5
Gross Income 753.1 up 68.8% from 446.1
Gross % of Sales 57.8% vs 55.5%
Operating Income 247.7 up 81% vs 136.9
Op. In. % of Sales 19% vs 17%
Net Income 147.4 vs 72.5
Earnings per share .78 vs .40
Share Count 189.3 vs 179.2

Forecast
Q1 360-370
SSS +35%
18-20 cents per share
199M shares

2013 1.7B-1.8B
SSS +20%
$1.08-$1.12
201.2M shares and 38% tax
_______________________________________________

Q1 2013 8/14/12

Sales 414.9 up 71% from 243.1
Retail 215 up 76% from 122.3
20 new stores, 76 new year over year
177 plus 68 licensed = 321 stores
Same Store Sales +37.3%
Wholesale 182.4 up 66% from 109.9
Royalty 17.5 up 61% from 10.8
Gross Income 251 up 83.2% from 137
Gross % of Sales 60.5% vs 56.3%
Operating Income 111.9 up 149% from 45.0
Op. In. % of Sales 27% vs 18.5%
Net Income 68.6 up 185% from 24.1
Earnings per share .34 vs .13
Share Count 199.4 vs 179.2
Same Store Sales
N America 38.4%
Europe 24.2%

Forecast
Q2 490-500
SSS +30%
33-35 cents per share
201M shares

2013 1.8B-1.9B
SSS +25-29%
$1.32-$1.34
____________________________________________

9/7/12 Files for 26,450,000 secondary
9/20/12 Company ups forecast to 510-520, 38-40 cents, SSS 45% as of 9/20/12
1.85B-1.95B, $1.39-$1.41 for fiscal 2013 SSS 30%
9/25/12 Completes secondary shares for $53
This should total 109,480,000 in the public float now
____________________________________________
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