The Bon-Ton Stores on Tuesday reported lower net profits in the fourth quarter and a deeper net loss for the fiscal year ended Feb. 2.
For the quarter, net profits fell 4.8 percent to $74.4 million ($3.71 a share) from $78.2 million ($4.00 a share) in the year-earlier quarter. Sales increased 2.5 percent to $1.03 billion.
For the year, The Bon-Ton had a net loss of $21.6 million ($1.16 a share) versus a net loss of $12.1 million (67 cents a share) in the prior year. Sales grew 0.8 percent to $2.98 billion.
The York-based chain was hurt by higher impairment charges, smaller sums of other income and losses on the extinguishment of debt.
n n n
Kratos Defense & Security Solutions on Tuesday reported deeper net losses in the fourth quarter and year, in part due to the sequester.
Kratos took a fourth-quarter pre-tax charge of $96.6 million to reflect the impairment of intangible assets and goodwill, as the sequester cast a shadow on the defense industry.
In the quarter, Kratos had a net loss of $90.0 million ($1.59 a share), compared to a net loss of $8.6 million (25 cents a share) in the 2011 quarter. Revenues were up 23.5 percent to $263.6 million.
In the year, Kratos had a net loss of $114.4 million ($2.44 a share), versus a net loss of $24.2 million (88 cents a share) in 2011. Revenues grew 35.8 percent to $969.2 million.
Kratos came to Lancaster by acquiring Herley Industries in 2011.