Apparel and home decor retailer Gordmans Stores Inc. (GMAN) posted first-quarter net income of $3.2 million or $0.17 per share, compared to $8.1 million or $0.41 per share in the comparable quarter last year. On average, four analysts polled by Thomson Reuters expected the company to earn $0.12 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter decreased 1.9 percent to $131.43 million from $133.92 million in the prior-year quarter, while four analysts had a consensus revenue estimate of $129.36 million for the quarter.
Looking ahead to the second quarter, the company projects earnings in the range of $0.01 per share to $0.03 per share and revenues to be between $135 million and $137 million. Analysts currently expect second quarter earnings of $0.12 per share and revenues of $138.39 million.
Comparable store sales for the first quarter of fiscal 2013 dropped 10.5 percent over the first quarter of fiscal 2012.
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