Lovesac Q4 Income Climbs, But Misses Estimates; Stock Down - Update

(RTTNews) - (Adds Outlook, share movement)

For the first-quarter, Lovesac Company (LOVE) expects net loss of $13 million or $0.84 per basic share to $16 million or $1.03 per basic share. For the first-quarter, sales are projected to be in the range of $126 million to $132 million.

For the full year, Lovesac expects net profit of $18 million or $1.06 per share to $27 million or $1.59 per share.

Analysts, on average, expect the firm to earn income per share of $2.15, for the year.

Annual sales are projected to be in the range of $700 million to $770 million, in line with analysts' estimate of $765.38 million.

LOVE was trading down by 15.17 percent at $19.80 in the pre-market trade on the Nasdaq.

For the fourth quarter, Lovesac revealed a profit for its fourth quarter that increased from last year but missed the Street estimates.

The company's earnings came in at $31 million, or $1.87 per share. This compares with $26.2 million, or $1.65 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $1.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.0% to $250.5 million from $238.5 million last year.

Lovesac Co earnings at a glance (GAAP) :

-Earnings (Q4): $31 Mln. vs. $26.2 Mln. last year. -EPS (Q4): $1.87 vs. $1.65 last year. -Revenue (Q4): $250.5 Mln vs. $238.5 Mln last year.