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GPS » Topics » RECONCILIATION OF DILUTED EARNINGS PER SHARE ON A GAAP BASIS TO DILUTED EARNINGS PER SHARE ON A NON-GAAP BASIS

This excerpt taken from the GPS 8-K filed Oct 16, 2008.

RECONCILIATION OF DILUTED EARNINGS PER SHARE ON A GAAP BASIS TO DILUTED EARNINGS PER SHARE ON A NON-GAAP BASIS

 

     26 Weeks
Ended
August 4, 2007

Diluted earnings per share on a GAAP basis

    $ 0.40

Add: expenses related to the cost reduction initiatives (a)

      0.02
      

Diluted earnings per share on a non-GAAP basis (a)

    $ 0.42
      

 

(a) During the twenty-six weeks ended August 4, 2007, the company recognized $25 million of expenses on a pre-tax basis relating to its cost reduction initiatives. The majority of these expenses were related to severance benefits to employees at headquarter locations. Diluted earnings per share excluding the amounts noted above is a non-GAAP financial measure. We believe this is an important metric as it represents our diluted earnings per share from ongoing operations. However, this non-GAAP financial measure is not intended to supersede or replace our GAAP results.
This excerpt taken from the GPS 8-K filed Aug 21, 2008.

RECONCILIATION OF DILUTED EARNINGS PER SHARE ON A GAAP BASIS TO DILUTED EARNINGS PER SHARE ON A NON-GAAP BASIS

 

     13 Weeks Ended
August 4, 2007

Diluted earnings per share on a GAAP basis

    $ 0.19

Add: expenses related to the cost reduction initiatives (a)

      0.02
      

Diluted earnings per share on a non-GAAP basis (a)

    $ 0.21
      

 

(a) In the second quarter of fiscal year 2007, the company recognized $20 million of expenses on a pre-tax basis relating to its cost reduction initiatives. The majority of these expenses were related to severance benefits to employees at headquarter locations. Diluted earnings per share excluding the amounts noted above is a non-GAAP financial measure. We believe this is an important metric as it represents our diluted earnings per share from ongoing operations.
This excerpt taken from the GPS 8-K filed Feb 28, 2008.

RECONCILIATION OF DILUTED EARNINGS PER SHARE ON A GAAP BASIS TO DILUTED EARNINGS PER SHARE ON A NON-GAAP BASIS

 

     52 Weeks Ended
February 2, 2008

Diluted earnings per share on a GAAP basis

    $ 1.05

Add: loss from the discontinued operation of Forth & Towne (a)

      0.04

Add: expenses related to the cost reduction initiatives (b)

      0.03
      

Diluted earnings per share on a non-GAAP basis (c)

    $ 1.12
      

 

(a) In fiscal year 2007, the company closed its Forth & Towne store locations. Forth & Towne is presented as a discontinued operation in the accompanying consolidated statements of earnings.

 

(b) In fiscal year 2007, the company recognized $34 million of expenses on a pre-tax basis relating to its cost reduction initiatives, of which $32 million were operating expenses and $2 million were cost of goods sold and occupancy expenses. The majority of these expenses are related to severance benefits to employees at headquarter locations.

 

(c) Diluted earnings per share excluding the amounts noted above is a non-GAAP financial measure. We believe this is an important metric as it represents our diluted earnings per share from ongoing operations. However, this non-GAAP financial measure is not intended to supersede or replace our GAAP results.
This excerpt taken from the GPS 8-K filed Aug 23, 2007.

RECONCILIATION OF DILUTED EARNINGS PER SHARE ON A GAAP BASIS TO DILUTED EARNINGS PER SHARE ON A NON-GAAP BASIS

 

     13 Weeks Ended
August 4, 2007		    Expected
52 Weeks Ending
February 2, 2008

Diluted earnings per share on a GAAP basis

    $ 0.19    $ 0.83 to 0.88

Add: loss from the discontinued operation of Forth & Towne

      —        0.04

Add: expenses related to the cost reduction initiatives

      0.02      0.03
             

Diluted earnings per share on a non-GAAP basis (a)

    $ 0.21    $ 0.90 to 0.95
             
(a) Diluted earnings per share excluding the amounts noted above is a non-GAAP financial measure. We believe this is an important metric as it represents our diluted earnings per share from ongoing operations.
This excerpt taken from the GPS 8-K filed May 24, 2007.

RECONCILIATION OF DILUTED EARNINGS PER SHARE ON A GAAP BASIS TO DILUTED EARNINGS PER SHARE ON A NON-GAAP BASIS

 

     13 Weeks Ended
May 5, 2007		    Expected
52 Weeks Ending
February 2, 2008

Diluted earnings per share on a GAAP basis

    $ 0.22    $ 0.76 to 0.86

Add: Net loss per share of Forth & Towne

      0.03      0.04
             

Diluted earnings per share on a non-GAAP basis (a)

    $ 0.25    $ 0.80 to 0.90
             
(a) Diluted earnings per share excluding Forth & Towne’s net loss is a non-GAAP financial measure. We believe this is an important metric as it represents our diluted earnings per share from continuing operations.

EXCERPTS ON THIS PAGE:

8-K
Oct 16, 2008
8-K
Aug 21, 2008
8-K
Feb 28, 2008
8-K
Aug 23, 2007
8-K
May 24, 2007

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