Conn's Inc. (CONN), a specialty retailer, announced an improvement in fourth-quarter net income to $17.67 million, from $7.7 million a year before. On a per share basis, quarterly reported earnings stood at $0.50, significantly higher than last year's $0.24. On average, 8 analysts polled by Thomson Reuters expected the company to report profit per share of $0.56 for the quarter. Analysts' estimates typically exclude speical items.
Consolidated total revenues grew 10.4% year-over-year to $250.3 million, from $226.67 million, and same-store sales went up 7.0% year-on-year, on top of same store sales growth of 12.1% last year. Analysts expected revenue of $246.91 million for the quarter.
Looking ahead, the company said it has raised its earnings per share guidance for the fiscal year ending January 31, 2014, to $2.40 - $2.50 on an adjusted basis, with same stores sales likely to be up 3% - 8%. Eight analysts project annual earnings per share of $2.09. Previously, earnings per share of $2.05 - $2.15 was anticipated for the full fiscal year.
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