Zumiez Inc. (ZUMZ) reported net income for the first quarter of $2.5 million or $0.08 per share, compared to $4.5 million or $0.14 per share in the year-ago quarter.
The latest quarter results include $1.7 million, or $0.05 per share, for charges associated with the acquisition of Blue Tomato, and the results for fiscal 2012 include approximately $0.4 million, or $0.01 per share, of Blue Tomato acquisition charges.
Total net sales for the first quarter increased 14.3% to $148.50 million from $129.90 million a year ago. Same-store sales for the quarter decreased 0.7%.
Analysts polled by Thomson Reuters expected the company to earn $0.12 per share on revenue of $147.66 million for the first quarter. Analysts' estimates typically exclude special items.
Looking forward to the second quarter, the company forecast earnings of $0.12 to $0.14 per share, which includes an estimated about $0.04 per share for charges associated with the acquisition of Blue Tomato. Net sales are expected to be in the range of $155 million to $158 million.
Analysts currently expect the company to earn $0.17 per share on revenue of $156.79 million for the second quarter.
The company currently intends to open 58 new stores in fiscal 2013, including 9 stores in Canada and 6 stores in Europe.
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