Five Below, Inc. (FIVE) reported net income for the fourth quarter of $19.2 million or $0.35 per share, compared to $12.4 million or $0.27 per share for the year-ago quarter.
Excluding items, adjusted net income for the fourth quarter was $21.4 million or $0.39 per share, compared to $16.1 million or $0.31 per share in the prior year quarter.
Net sales for the fourth quarter increased 38.0% to $173.6 million from $125.8 million a year ago. Same-store sales for the quarter increased 4.4%.
Analysts polled by Thomson Reuters expected the company to earn $0.38 per share on revenue of $170.22 million for the fourth quarter. Analysts' estimates typically exclude special items.
Looking forward to the first quarter, the company forecast net sales of $92 million to $94 million, earnings of $0.00 to $0.01 per share and adjusted earnings of $0.02 to $0.03 per share. Analysts currently expect the company to earn $0.05 per share on revenue of $94.21 million for the first quarter.
For the fiscal year 2013, the company forecast net sales of $516 million to $521 million, earnings of $0.56 to $0.59 per share and adjusted earnings of $0.62 to $0.65 per share. Analysts currently expect the company to earn $0.70 per share on revenue of $533.04 million for the fiscal year 2013.
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