Cato Corp. (CATO) announced a profit for its first quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $11.0 million, or $0.54 per share. This compares with $4.4 million, or $0.22 per share, in last year's first quarter.
Analysts on average had expected the company to earn $0 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 7.8% to $177.1 million from $192.1 million last year.
Cato Corp. earnings at a glance (GAAP) :
-Earnings (Q1): $11.0 Mln. vs. $4.4 Mln. last year.
-EPS (Q1): $0.54 vs. $0.22 last year.
-Revenue (Q1): $177.1 Mln vs. $192.1 Mln last year.
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