Gap (GPS)

Fourth quarter diluted earnings per share increased 50 percent to $0.51 from $0.34 last year.

Fourth quarter net sales increased 4 percent to $4.24 billion compared with $4.08 billion last year.

Fourth quarter gross margin increased 550 basis points to 39.5 percent; fourth quarter operating margin increased 410 basis points to 13.9 percent, the highest fourth quarter operating margin in more than a decade.

Fiscal year 2009 diluted earnings per share increased 18 percent to $1.58 compared with $1.34 last year.

Fiscal year 2009 gross margin increased 280 basis points to 40.3 percent; operating margin increased 210 basis points to 12.8 percent.

Fiscal year 2009 free cash flow was $1.6 billion.

Third quarter diluted earnings per share increased to $0.44 from $0.35 last year.

Third quarter net sales increased one percent to $3.59 billion compared with $3.56 billion last year.

Third quarter gross margin increased 380 basis points to 42.5 percent; and third quarter operating margin increased to 13.9 percent compared with 11.1 percent last year.

Year to date free cash flow was $931 million.

Second quarter diluted earnings per share increased to $0.33 from $0.32 last year.

Second quarter gross margin increased by 150 basis points driven by improved merchandise margins.

Operating expenses in the second quarter of fiscal year 2009 were down about $50 million compared with the second quarter last year. Since the beginning of fiscal year 2007, operating expenses are down about $650 million.

Year to date, free cash flow was an inflow of $589 million, leaving the company with more than $2 billion in cash and cash equivalents.