Pacific Sunwear of California, Inc. (PSUN) reported a net loss for the fourth quarter of $19.9 million or $0.29 per share, compared to a net loss of $38.1 million or $0.56 per share for the year-ago quarter.
Loss from continuing operations for the fourth quarter was $22.5 million or $0.33 per share, compared to a loss from continuing operations of $26.7 million or $0.39 per share in the prior year quarter.
Excluding items, adjusted loss from continuing operations for the fourth quarter was $11.4 million or $0.17 per share, compared to an adjusted loss from continuing operations of $13.0 million or $0.19 per share in the fourth quarter of last year.
Net sales for the fourth quarter rose to $228.04 million from $218.67 million a year ago.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.16 per share on revenue of $227.86 million for the fourth quarter. Analysts' estimates typically exclude special items.
Looking forward to the first quarter, the company forecast a loss from continuing operations of $0.17 to $0.24 per share and revenue of $160 million to $167 million. Analysts currently expect the company to report a loss of $0.13 per share on revenue of $167.90 million for the first quarter.
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