GNC Holdings Q2 Results Beat View; Lifts FY13 Earnings Outlook - Quick Facts

(RTTNews) - GNC Holdings Inc. (GNC) reported second-quarter net income of $71.69 million or $0.73 per share, up from $66.67 million or $0.62 per share in the previous-year quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.70 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenue for the quarter grew 9 percent to $676.28 million from $619.08 million in the same period last year. Analysts expected revenue of $672.30 million for the quarter.

Same store sales increased about 6.8 percent in domestic company-owned stores in the second quarter, excluding a negative impact of about 280 basis points or 2.8 percent from the planned giveaway of Gold Cards during the company's chain-wide Member Pricing rollout.

In domestic franchise locations, same store sales increased approximately 5.2 percent excluding an approximately 90 basis point negative impact from Gold Card giveaways.

For fiscal 2013, GNC raised its outlook for earnings per share to a range of about $2.83 to $2.88 from the prior range of approximately $2.75 to $2.80. The outlook is based on achieving a high-single digit increase in domestic company-owned same store sales for the third and fourth quarters.

Analysts expect the company to report earnings of $2.80 per share for the year.