Wet Seal, Inc. (WTSLA) posted second-quarter net loss of $12.4 million or $0.14 per share, compared to net income of $2.2 million or $0.02 per share in the prior year quarter.
Excluding items, net loss for the second quarter was $5.8 million or $0.07 per share, compared to net income of $2.8 million or $0.03 per share in the year-ago quarter. On average, five analysts polled by Thomson Reuters expected the company to report a loss of $0.07 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter was $135.26 million, down from $148.77 million in the comparable quarter last year, while five analysts had a consensus revenue estimate of $136.64 million for the quarter.
For the third quarter of fiscal 2012, the company estimates net loss per share in the range of $0.13 to $0.16 and total net sales between $128 million and $133 million. Analysts currently expect a loss of $0.01 per share and revenue of $144.41 million for the third quarter.
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