Rue21 Inc. (RUE) Wednesday reported first-quarter net income of $10.8 million or $0.44 per share, compared to $11.6 million or $0.46 per share in the comparable quarter last year.
On average, five analysts polled by Thomson Reuters expected the company to earn $0.46 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 9 percent to $224.38 million from $205.62 million in the prior-year quarter, while five analysts had a consensus revenue estimate of $229.83 million for the quarter.
Looking ahead, the company expects second quarter earnings in the range of $0.51 to $0.53 per share. Analysts currently expect the company to earn $0.40 per share for the second quarter.
For fiscal 2013, the company lowered its earnings guidance to a range of $1.98 per share to $2.03 per share from its previous guidance of $2.00 to $2.05 per share. Analysts currently expect earnings of $2.02 per share for the year.
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