hsn inc (HSNI) Key Developments
HSN, Inc. Announces Management Changes
May 15 13
HSN, Inc. announced the promotion of Judy Schmeling to Chief Operating Officer and Chief Financial Officer, effective immediately. Ms. Schmeling has served as HSNi's Executive Vice President and Chief Financial Officer since 2001. In her new role, she will be responsible for supply chain operations and customer care functions in addition to providing ongoing leadership for finance and information technology. As HSNi's COO and CFO, Ms. Schmeling, known as a strategic business leader, will ensure efficient, cost-effective support in information technology, logistics and supply chain operations, customer care and facilities for HSN and Cornerstone, in addition to managing all finance-related activities. She will continue to be based at the company's headquarters in St. Petersburg, Fla. The company also announced the promotion of two senior finance executives, Michael J. Attinella and Patrick Vonderhaar, both reporting to Ms. Schmeling. Mr. Attinella was appointed Chief Financial Officer of HSN and Chief Accounting Officer of HSNi. He joined HSN in 2001 and most recently served as Senior Vice President, Chief Accounting Officer and Corporate Controller of HSNi. Mr. Vonderhaar was elevated from Vice President and Corporate Controller to Chief Financial Officer for Cornerstone Brands. In addition, Rob Solomon has been appointed Executive Vice President, Customer Care & Operations Administration, HSNi, and Bob Monti as Executive Vice President, Supply Chain & Logistics, HSNi, both reporting to Ms. Schmeling.
HSN, Inc. Presents at Stifel Internet, Media & Communications Conference, May-21-2013 08:00 AM
May 15 13
HSN, Inc. Presents at Stifel Internet, Media & Communications Conference, May-21-2013 08:00 AM. Venue: The Pierre Hotel, New York, New York, United States. Speakers: Judy A. Schmeling, Chief Financial Officer, Principal Accounting Officer and Executive Vice President, Mindy F. Grossman, Chief Executive Officer, Director and Member of Executive Committee.
HSN, Inc. Elects Courtnee Ulrich as Director
May 10 13
HSN, Inc. elected Courtnee Ulrich as director at the AGM held on May 8, 2013.
HSN, Inc. Approves Quarterly Cash Dividend, Payable on June 19, 2013
May 2 13
Effective May 2, 2013, HSN, Inc.'s board of directors approved a quarterly cash dividend of $0.18 per share payable on June 19, 2013 to shareholders of record as of June 5, 2013.
HSN, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013
May 2 13
HSN, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported operating income of $52.5 million and income from continuing operations of $31.6 million or $0.56 per diluted share on net sales of $772.7 million compared to operating income of $51.3 million and income from continuing operations of $27.3 million or $0.45 per diluted share on net sales of $737.9 million reported a year ago. Adjusted EBITDA was $66.8 million compared to $66.3 million reported a year ago. Adjusted EBITDA increased 1% to $66.8 million. These results were driven by a 5% increase in net sales and a 10 basis point increase in gross margin, offset by a 6% increase in operating expenses (excluding non-cash charges). Net income was $31.54 million or $0.56 per diluted share compared to $26.17 million or $0.44 per diluted share reported a year ago. Income from continuing operations before income taxes was $50.88 million compared to $43.92 million reported a year ago. Net cash provided by operating activities was $17.3 million compared to $20.3 million used in the prior year, an improvement of $37.5 million, primarily due to changes in working capital. Capital expenditures were $10.66 million compared to $8.70 million reported a year ago.