Conn's Inc. (CONN: Quote) posted fourth-quarter net income of $7.70 million or $0.24 per share, as against a loss of $3.58 million or $0.12 per share last year.
Adjusted earnings per share were $0.34, excluding store closing costs and long-lived asset impairment charges, compared with a breakeven loss per share a year ago. On average, 4 analysts polled by Thomson Reuters expected earnings per share of $0.29 for the quarter. Analysts' estimates typically exclude one-time items.
Total revenues rose 3.7% to $226.67 million from $218.66 million in the earlier year quarter, with same-store sales up 12.1%. Three analysts estimated revenues of $221.90 million for the quarter.
For the fiscal year ending January 31, 2013, the company updated its earnings guidance to $1.20 - $1.30 per share, while same-stores sales are expected to be up mid- to high-single digits;
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by RTT Staff Writer
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