Zale Corp. (ZLC) reported fourth-quarter net loss of $4.88 million or $0.15 per share, compared to net income of $1.54 million or $0.03 per share last year.
The company posted loss from continuing operations of $4.88 million or $0.15 per share, compared to earnings from continuing operations of $717 thousand or $0.01 per share in the prior-year quarter.
On average, six analysts polled by First Call/Thomson Financial expected the company to report loss of $0.57 per share.
Quarterly revenues grew to $456.22 million from $429.97 million in the comparable period a year ago. Four analysts had a consensus revenue estimate of $448.91 million.
Looking ahead, the company expects fiscal 2009 earnings per share in the range of $1.10-$1.25, while it expects earnings per share adjusted for total warranty sales in the range of $2.35-$2.50. Total revenue recognized from warranty sales is expected to be $55 million for fiscal 2009, which includes $15 million from 2009 sales plus $40 million from sales made in 2007 and 2008. Analysts expect earnings of $0.90 per share, on revenues of $2.09 billion.
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