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Guitar center net rises on first-quarter sales gain.

Publication: Music Trades
Publication Date: 01-JUN-07
Format: Online
Delivery: Immediate Online Access
Full Article Title: Guitar center net rises on first-quarter sales gain.(RETAILER UPDATE)(Financial report)

Article Excerpt
GUITAR CENTER, INC. net sales increased 13.5% to $534.5 million in the first quarter from $470.7 million in the prior year period. Net income in the first quarter was $17.2 million, versus net income of $15.7 million, or $0.55 per diluted share, in the prior year period.

Net income in the first quarter of 2007 included stock-based compensation expense under the Company's long term incentive plans (LTIP) of $0.3 million after-tax, or $0.01 per diluted share. Net income in the prior-year period included stock-based compensation expense under the LTIP of $2.0 million after-tax, or $0.07 per diluted share, as well as a charge of $0.9 million after-tax, or $0.03 per diluted share, resulting from the retirement...

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