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National Vision Holdings Q1 Earnings Rise; Ups Full-year Outlook

National Vision Holdings, Inc. (EYE) Thursday said its net income in the first quarter increased 346% to $43.4 million from $9.7 million in the same quarter a year ago.

Reade Fahs, chief executive officer said, "Our first quarter results were likely helped by the interplay of the continued hastening of industry trends that favor our low price offerings and pent-up demand, aided by government stimulus."

Earnings per share in the first quarter increased 302% to $0.48 from $0.12 in the year-ago quarter.

Excluding items, earnings were $0.48 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.31 per share.

Revenue for the quarter increased 13.7% to $534.18 million from $469.7 million a year ago. The consensus estimate was for $522.14 million.

Comparable store sales growth was 18.2% for the quarter.

Looking forward, the company has raised its full-year outlook.

National Vision Holdings expects adjusted earnings to be in the range of $1.07 - $1.12 in the full-year compared with $0.88 - $0.93 provided earlier.

Revenue for the full-year are expected between $1.975 billion and $2.025 billion compared with $1.93 billion - $1.98 billion guided previously.

Analysts expect the company to report earnings of $0.89 per share on revenue of $1.96 billion for the period.

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