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price of a coach purse in the comparable period last year;Gross profit as a percent of net sales rose 600 basis points to 43.1% from 37.1% one year ago; andSelling, general and administrative expenses of $33.2 million, or 25.3% of net sales, were up 50 basis points from $26.4 million, or 24.8% of net sales, in the equivalent period last year.For the third quarter, the Company's consolidated results included:A 24.9% increase in net sales to $25.1 million versus $20.1 million one year ago;Net earnings of $834,000, or $0.07 per diluted share, up from break even in the corresponding period last year; andSignificantly improved gross profit as a percent of sales at 44.6% compared to 39.4% in the equivalent quarter of fiscal 2011.The Company said that net sales in its Footwear segment rose 3.4% during the nine months to $107.2 million from $103.7 million in the comparable period last year, yielding a 350 basis point improvement in gross profit as a percentage of net sales at 40.0%. In its Accessories segment, which includes Foot Petals and baggallini, acquired in January and March last year, respectively, the Company recorded nine month net sales of $23.8 million, yielding a 57.2% gross profit as a percentage of net sales.The Company's balance sheet reflected:Cash and short term investments of $40.2 million compared to $28.4 million one year ago;Consolidated inventory of $17.0 million was down 16.5% versus one year ago. The inventory was comprised of $10.3 million in footwear and $6.7 in accessories; andNet shareholders' equity of $75.8 million, up 23.2% from $61.5 million at the end of the third quarter of fiscal 2011.Management