Lululemon Athletica Q1 Profit Tops View; Lifts FY15 Outlook - Quick Facts

(RTTNews) - Canadian yoga-wear maker Lululemon Athletica, Inc. (LULU) posted first-quarter net income of $47.81 million or $0.34 per share, compared to $18.98 million or $0.13 per share in the previous year.

Excluding the tax expense on the repatriation of foreign earnings, earnings per share were $0.34, same as last year. On average, 36 analysts polled by Thomson Reuters expected the company to report profit per share of $0.33 for the quarter. Analysts' estimates typically exclude special items.

Net revenue for the latest first quarter climbed 10% to $423.54 million from $384.62 million in the comparable quarter last year. Analysts estimated revenue of $418.94 million for the period. Including comparable-store sales and direct to consumer, total comparable sales rose by 6% on a constant dollar basis. Quarterly comparable-store sales decreased by 1% on a constant dollar basis, while direct to consumer revenue increased 31% on a constant dollar basis.

Looking ahead to the second quarter of fiscal 2015, the firm expects earnings to be in the range of $0.31 to $0.33 per share and net revenue of $440 million to $445 million based on a total comparable sales in the high single digits on a constant dollar basis. Analysts currently expect second quarter earnings of $0.34 per share and revenue of $439.78 million.

For the full fiscal 2015, the company now expects earnings per share to be in the range of $1.86 to $1.91 and revenue in the range of $2.00 billion to $2.05 billion based on a total comparable sales increase in the mid single digits on a constant dollar basis. Analysts now project annual earnings per share of $1.93, on $2.02 billion in revenues.

Earlier, the company expected earnings per share to be in the range of $1.85 to $1.90 and revenue in the range of $1.97 billion to $2.02 billion based on a total comparable sales increase in the mid single digits on a constant dollar basis.