For the first half of fiscal 2022, EBITDA exceeded $32 million and subsequent to the end of the second quarter, we completed the $25 million share repurchase authorized by our Board of Directors in November, 2021.Īnd as announced yesterday, the board has authorized a new program, which Voin will cover in more detail. EBITDA was $10.7 million for the fiscal 2022 second quarter, again, including the impact of incremental freight expense. Pretax income was $7.6 million for the fiscal 2022 second quarter and includes the impact of approximately $4 million of incremental freight expense.įor the first half of fiscal 2022, pretax income was $25.8 million, an increase over the record setting results of 2021. For the first half, total revenues were $218.3 million a record setting performance for our company's first half, representing a 17% increase over the prior year. Total revenues were $100.7 million, an increase over our strong top line results in last year's period. Now let me turn to some highlights of the second quarter and first half. Therefore, we are reaffirming our annual guidance. And while we are mindful of the macroeconomic uncertainties, we have demonstrated an ability to remain nimble and adapt our more diversified business model to navigate challenging circumstances that had – and had already anticipated these supply chain issues and inflationary pressures. Our overall sales trends and traffic patterns at retail have continued to be positive as we start the third quarter. Combined as noted, these initiatives led to a solid second quarter and record breaking first half, even as we navigated continued freight cost pressures and supply chain disruptions. This morning, I will begin with some highlights of our second quarter, followed by an update on the progress of our strategy that focuses on continuing our digital transformation, accelerating our store evolution and leveraging expanded omnichannel capabilities, while utilizing our solid balance sheet and free cash flow to support key business initiatives intended to drive further profitable growth. We believe that our strategic plan, which capitalizes on our powerful brand, executed with discipline and agility is the primary driver of our results. Following the most profitable year in our company's history, we have built on that performance to deliver an all-time high for total revenues and profitability for the fiscal first half of 2022. We are pleased to announce another strong quarterly performance for Build-A-Bear. We undertake no obligation to revise any forward-looking statements.Īnd now, I would like to turn the call over to Sharon. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in the Risk Factors section in the company's annual report on Form 10-K. I will remind everyone that forward-looking statements are inherently subject to risks and uncertainties. The earnings release is available on the Investor Relations portion of our corporate website.Ī replay of both our call and webcast will be available later today on the IR site. Please note the call is being recorded and broadcast live via the internet. Feel free to re-queue if you have further questions, members of the media who may be on our call today should contact us after this conference call with your questions. This way, we can get to everyone's questions during this one hour call. ![]() We ask that you limit your questions to one question and one follow up. After Voin will review the financials and guidance in more detail, we will then open the call to take your questions. For today's call, Sharon will begin with the discussion of our second quarter and first half fiscal 2022 performance, and update the progress we have made on our key priorities. With me today are Sharon Price John, CEO and Voin Todorovic, CFO. It is now my pleasure to introduce your host, Allison Malkin of ICR. As a reminder, this conference is being recorded. ![]() A brief question-and-answer session will follow the formal presentation. At this time, all participants are in a listen-only mode. Greetings, and welcome to the Build-A-Bear Workshop Second Quarter and First Half 2022 Earnings Conference Call. Sharon Price John – Chief Executive Officer ![]() ( NYSE: BBW) Q2 2022 Earnings Conference Call Septem9:00 AM ET
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