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3/15/2012 6:24:00 PM
Fourth-quarter, 2012 annual earnings rise at Fort Wayne's Vera Bradley

Greater Fort Wayne Business Weekly

Vera Bradley Inc. reported fiscal fourth-quarter earnings growth of 41 percent on a 23-percent increase in revenue.

The Fort Wayne-based handbag maker saw earnings for its fourth quarter ended Jan. 28 rise to $20.1 million, or 50 cents per share, from $14.2 million, or 35 cents per share, for the same period last year as its revenue rose to $134.5 million from $109.4 million.

About 60 percent of the company’s fourth-quarter revenue was direct, and the rest was indirect through specialty retailers.

Vera Bradley’s direct fourth-quarter revenue grew 46 percent to $81.2 million, helped by a 9-percent increase in comparable store sales and 28-percent e-commerce sales growth.

For its 2012 fiscal year, earnings of $57.9 million, or $1.43 per share, were up from $46.2 million, or $1.25 per share, for the year before. Revenue rose 26 percent, to $460.8 million from $366.1 million.

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