GameStop Corp. (GME) reported consolidated net income attributable to company of $261.1 million or $2.15 per share for the 14 weeks fourth quarter ended Feb. 2, 2013, compared to $174.7 million or $1.27 per share for the 13 weeks ended Jan. 28, last year.
Adjusted net earnings was $262.3 million compared to $239.5 million prior year. The company said the increase in earnings was primarily due to the positive impact of the 53rd week in 2012 and a 100 basis point improvement in the gross margin rate. Adjusted profit per share were at $2.16, a 24.9% increase compared to $1.73 prior year. The 53rd week contributed approximately $10.1 million of net earnings, or $0.08 per share, to the fourth quarter.
Total global sales were $3.56 billion, compared to $3.58 billion prior year. Consolidated comparable store sales decreased 4.6%.
On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $2.09 for the quarter. Analysts' estimates typically exclude speical items. Analysts expected revenue of $3.45 billion for the quarter.
The company expects first-quarter profit per share in the range of $0.38 to $0.43, and fiscal 2013 profit per share in the range of $2.75 to $3.15. Analysts expect the company to report first-quarter profit per share of $0.56, and fiscal 2013 profit per share of $3.42.
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