Hibbett Sports Q3 Profit Down; Lifts FY15 Earnings Range - Quick Facts

(RTTNews) - Sports good retailer Hibbett Sports, Inc. (HIBB) Friday reported third-quarter net income of $16.9 million, down from $17.3 million in the prior year period, but earnings per share for the latest third quarter edged up to $0.67 from $0.66, a year earlier. On average, nineteen analysts polled by Thomson-Reuters expected the company to earn $0.62 per share. Analysts' estimates typically exclude one-time items.

Net sales increased by 5.0 percent to $218.32 million, from $207.97 million last year, but were shy of $222.49 million analysts expected. Comparable stores sales for the quarter increased by 0.6 percent, the company said.

For fiscal year 2015, the company is raising its earnings per share to a range of $2.72 to $2.77, from its previous range of $2.63 to $2.73. The company also reaffirms an expected increase in comparable store sales in the low single-digit range. Analysts now expect earnings of $2.69 per share.