Build-A-Bear Workshop Inc. reported unaudited consolidated earnings results for the first quarter ended March 30, 2013. For the quarter, the company reported net income of $13,000 or $0.00 per share on total revenue of $104,265,000 against net loss of $1,017,000 or $0.06 per basic and diluted share on total revenue of $96,373,000 a year ago. Capital expenditures, net were $3.81 million compared to $3.78 million a year ago. Comparable store sales change was 10.4% compared to 1.2% a year ago. Adjusted net income was $2.32 million or $0.14 per share compared to adjusted net loss of $0.454 million or $0.03 per share a year ago. Income before income taxes was $110,000 compared to $1.13 million a year ago. Consolidated e-commerce sales rose 7.0%, excluding the impact of foreign exchange. Capital expenditures in the first quarter were $4 million, primarily for store related capital and IT infrastructure, comparable to last year. The company provided capital expenditures guidance for the year 2013. In 2013, the company continues to expect capital expenditures to be approximately $20 to $25 million and depreciation and amortization is expected to be approximately $20 to $22 million. The company continues to expect to close an additional 30 to 45 stores in fiscal 2013 and 2014 to reach its optimal store count of 225 to 250 stores in North America. These select store closures are expected to transfer approximately 20% of sales to other stores in the same markets, which is consistent with the average transfer rate of the stores closed since 2011.

Build-A-Bear Workshop Inc. announced that they will report Q1, 2013 results at 9:00 AM, Eastern Standard Time on May 02, 2013

Build-A-Bear Workshop Inc., Q1 2013 Earnings Call, May 02, 2013