/C O R R E C T I O N -- AnnTaylor Stores Corporation/
November 10 2004 - 4:58PM
PR Newswire (US)
/C O R R E C T I O N -- AnnTaylor Stores Corporation/ In the news
release, Ann Taylor Announces Fiscal Year 2004 Third Quarter
Earnings, issued earlier today by AnnTaylor Stores Corporation over
PR Newswire, in the CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS, the figures for "Net cash provided (used) by financing
activities" should read "(98,290) for the Nine Months Ended October
30, 2004" and "3,395 for the Nine Months Ended November 1, 2003"
rather than what was incorrectly transmitted by PR Newswire. The
complete, corrected table follows: ANNTAYLOR STORES CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS For the Nine Months
Ended October 30, 2004 and November 1, 2003 (unaudited) Nine Months
Ended October 30, November 1, 2004 2003 (in thousands) Operating
activities: Net income $76,224 $69,410 Adjustments to reconcile net
income to net cash provided by operating activities: Amortization
of deferred compensation 6,287 2,419 Deferred income taxes 658
1,073 Depreciation and amortization 43,826 39,208 Loss on disposal
or write down of property and equipment 696 724 Non-cash interest
1,745 3,277 Tax benefit from exercise of stock options 6,330 3,100
Changes in assets and liabilities: Receivables (7,721) (7,209)
Merchandise inventories (115,932) (41,750) Prepaid expenses and
other current assets (17,243) (9,810) Accounts payable and accrued
expenses 17,222 41,208 Other non-current assets and liabilities,
net 3,433 6,788 Net cash provided by operating activities 15,525
108,438 Investing activities: Purchases of property and equipment
(65,590) (54,241) Net cash used by investing activities (65,590)
(54,241) Financing activities: Common stock activity related to
stock based compensation programs, net 20,576 16,176 Repurchase of
common stock (118,866) (12,781) Net cash provided (used) by
financing activities (98,290) 3,395 Net increase (decrease) in cash
(148,355) 57,592 Cash and cash equivalents, beginning of period
337,087 212,821 Cash and cash equivalents, end of period $188,732
$270,413 PRNewswire -- Nov. 10 DATASOURCE: AnnTaylor Stores
Corporation Web site: http://www.anntaylor.com/
http://www.anntaylorloft.com/
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