hhgregg, Inc. (HGG) posted fourth-quarter net income of $9.9 million or $0.31 per share, compared to $53.6 million or $1.45 per share last year.
Adjusted income per share for the latest fourth quarter was $0.31, down from $0.39 per share in the comparable quarter last year. On average, 15 analysts polled by Thomson Reuters expected the company to report loss of $0.30 per share. Analysts' estimates typically exclude special items.
Net sales declined 2.6% to $597.63 million from $613.79 million in the year-ago period, while 13 analysts expected revenues of $622.57 million.
For fiscal 2014, the company expects earnings in the range of $0.75 to $0.90 per share and net sales growth of 1.0% to 3.5%. The company expects comparable store sales decrease of 2.5% to flat.
Analysts currently expect fiscal 2014 earnings of $0.79 per share and revenues of $2.59 billion.
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