(Adds Outlook, share movement)
For the first-quarter, Lovesac Company (LOVE) expects net loss of $13 million or $0.84 per basic share to $16 million or $1.03 per basic share. For the first-quarter, sales are projected to be in the range of $126 million to $132 million.
For the full year, Lovesac expects net profit of $18 million or $1.06 per share to $27 million or $1.59 per share.
Analysts, on average, expect the firm to earn income per share of $2.15, for the year.
Annual sales are projected to be in the range of $700 million to $770 million, in line with analysts' estimate of $765.38 million.
LOVE was trading down by 15.17 percent at $19.80 in the pre-market trade on the Nasdaq.
For the fourth quarter, Lovesac revealed a profit that increased from last year but missed the Street estimates.
The company's earnings came in at $31 million, or $1.87 per share. This compares with $26.2 million, or $1.65 per share, in last year's fourth quarter.
Analysts on average had expected the company to earn $1.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 5.0% to $250.5 million from $238.5 million last year.
Lovesac Co earnings at a glance (GAAP) :
-Earnings (Q4): $31 Mln. vs. $26.2 Mln. last year.-EPS (Q4): $1.87 vs. $1.65 last year.-Revenue (Q4): $250.5 Mln vs. $238.5 Mln last year.
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