Five Below, Inc. (FIVE) reported first-quarter net income attributable to common shareholders of $1.5 million or $0.03 per share, compared to a net loss of $5.3 million or $0.32 per share in the year-ago quarter.
Excluding items, adjusted net income for the first quarter was $2.5 million or $0.05 per share, compared to $2.6 million or $0.05 per share in the prior year quarter.
Net sales for the latest first quarter increased 33.1% to $95.60 million from $71.83 million in the comparable quarter last year. Same-store sales for the quarter increased 4.2%.
On average, twelve analysts polled by Thomson Reuters expected the company to earn $0.04 per share on revenue of $94.23 million for the first quarter. Analysts' estimates typically exclude special items.
Looking forward to the second quarter, the company forecast GAAP earnings to be in the range of $0.05 to $0.06 per share, adjusted earnings of $0.08 to $0.09 per share and net sales of $112 million to $114 million. Analysts currently expect the company to earn $0.08 per share on revenue of $109.92 million for the second quarter.
For the fiscal year 2013, the company expects GAAP earnings to be in the range of $0.57 to $0.60 per share, adjusted earnings of $0.65 to $0.68 per share and net sales of $524 million to $529 million. Analysts currently expect the company to earn $0.67 per share on revenue of $530.71 million for fiscal year 2013.
Earlier, the company expected GAAP earnings to be in the range of $0.56 to $0.59 per share, adjusted earnings of $0.62 to $0.65 per share and net sales of $516 million to $521 million.
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