99 Cents Only FY earnings

CITY OF COMMERCE, Calif. 99 Cents Only Stores reported a net loss of $1 million or 1 cent per diluted share for the quarter ended March 31, compared to a same quarter 2006 net loss of $1.6 million or 2 cents per diluted share. For the fiscal year ended March 31, the company reported diluted earnings per share of 14 cents on net income of $9.8 million, compared to diluted earnings per share of 16 cents on net income of $11.4 million for the fiscal year ended March 31, 2006.

As previously reported, for the quarter ended March 31, net sales increased 9.4% to $277.9 million compared to $254.1 million for the same quarter last year, and same-store sales for the fourth quarter ended March 31 increased 2.9% versus the same quarter last year. For the fiscal year ended March 31, net sales were $1.1 million, up 7.9% over sales of $1.02 million for the fiscal year ended March 31, 2006. Same-store sales for the fiscal year ended March 31 were up 2.4% over the prior year.