ANN Inc. (ANN: Quote) reported that net income for the second-quarter of 2012 was $30.7 million, an increase of 24% versus the $24.8 million in the second quarter of 2011. Earnings per share was $0.63, an increase of 34% compared to the $0.47 per share reported in the second quarter of 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $0.51 per share for the quarter. Analysts' estimates typically exclude special items.
Total net sales for the second quarter of fiscal 2012 were $594.9 million, compared with net sales of $558.2 million in the second quarter of fiscal 2011.Twelve analysts had consensus revenue estimate of $585.61 million for the quarter. Total company comparable sales for the quarter increased 4.7% versus the second quarter of 2011.
For the fiscal third quarter of 2012, the company expects total net sales to be $600 million, reflecting a total Company comparable sales increase in the mid-single digits. Twelve analysts have consensus revenue estimate of $605.69 million for the third-quarter.
Total net sales for fiscal 2012 are now expected to approach $2.385 billion, reflecting a total company comparable sales increase in the mid-single digits. Earlier, the company expected total net sales for fiscal 2012 to be $2.375 billion, reflecting a total company comparable sales increase in the mid-single digits. Fourteen analysts have consensus revenue estimate of $2.37 billion for fiscal 2012.
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by RTT Staff Writer
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