Cost Plus, Inc. (CPWM: Quote), a home living and entertaining products retailer, reported fourth-quarter net income of $36.5 million or $1.55 per share, up from last year's $28.5 million or $1.23 per share.
Net income from continuing operations was $36.7 million or $1.56 per share, compared to $28.8 million or $1.24 per share last year.
On average, 6 analysts polled by Thomson Reuters expected the company to earn $1.50 per share for the quarter. Analysts' estimates typically excludes one-time items.
Net sales for the quarter increased 6.7 percent to $364.3 million from $341.6 million last year. Analysts expected revenues of $361.81 million for the quarter.
Looking forward to the first quarter 2012 , the company expects a net loss from continuing operations of $1.6 million to $0.8 million, or $0.07 to $0.03 per share. It expects net sales of between $210 million and $214 million.
Analysts expect the company to report a loss of $0.09 per share on revenues of $205.46 million for the first quarter.
For the full year 2012, the company expects earnings from continuing operations of $26 million to $28 million, or $1.07 to $1.12 per share. Revenue is expected in the range of $1.0 billion to $1.1 billion.
Analysts expect earnings of $1.05 per share on revenues of $1.01 billion for the year.
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by RTT Staff Writer
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