Stein Mart, Inc. Reports Third Quarter EPS of $.10

Stein Mart, Inc.

today announced financial results for its third quarter and first nine months ended October 30, 2010. Net income for the quarter was $4.3 million or $0.10 per diluted share compared to net income of $3.2 million or $.07 per diluted share in 2009. Included in the results for 2010 and 2009 are favorable income tax adjustments which resulted in income tax benefits in both periods. Excluding the impact of these adjustments, diluted earnings per share would have been $0.05 in 2010 compared to $0.02 in 2009. Pretax income for the quarter was $2.6 million compared to $1.2 million in 2009.