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Karachi, March 19 -- The Cato Corporation (NYSE: CATO) Elsa Peretti Eternal Circle pendant reported net income for the fourth quarter and year ended January 29, 2011. For the fourth quarter, the Company reported net income of $7.9 million or $0.27 per diluted share, compared to net income of $7.3 million or $0.25 per diluted share for the fourth quarter Elsa Peretti Eternal Circle pendant January 30, 2010. For the quarter, both net income and earnings per diluted share increased 8% over the prior year.

Full year 2010 net income was a record $57.7 million or $1.96 per diluted share compared to $45.8 million or $1.55 per diluted share for 2009. For the year, both net Elsa Peretti Infinity Cross pendant and earnings per diluted share increased 26% over the prior year.Sales for fiscal fourth quarter ended January 29, 2011 were $224.3 million, a 3% increase over sales of $217.7 million for the fourth quarter ended January 30, 2010.

"Cato delivered record earnings in 2010, the Company's third straight year of strong growth, by continuing to offer our customers great fashion and customer Elsa Peretti Starfish pendant at a great value," said John Cato, Chairman, President and Chief Executive Officer. "Weaker than expected sales over the last half of the fourth quarter created higher than expected markdowns and negatively impacted the quarter's results."