hhgregg Inc. (HGG) reported that its third-quarter net income increased to $22.735 million or $0.57 per share from $17.120 million or $0.52 per share last year.
On average, 15 analysts polled by Thomson Reuters expected the company to report profit of $0.45 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales increased to $500.392 million from $416.106 million prior year. Analysts expected revenue of $466.49 million for the quarter.
Comparable store sales decreased 0.2%.
The company has reiterated fiscal 2010 net sales growth guidance of 6% to 9%, which implies an annual comparable store sales guidance of decline of 6% to decline of 9%, and its range of net income per share guidance of $0.90 to $1.00.
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