Restoration Hardware Q2 Profit Rises

(RTTNews) - Restoration Hardware Holdings Inc.(RH), Thursday reported second-quarter net income of $29.9 million or $0.71 per share, up from $27.3 million or $0.66 per share last year.

Adjusted earnings for the quarter rose to $0.85 per share from $0.67 per share last year. Analysts polled by Thomson Reuters estimated earnings of $0.84 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $506.9 million from $433.8 million last year. Analysts had a consensus revenue estimate of $503.3 million for the quarter.

Looking for the third quarter, the company expects adjusted earnings of $0.60 to $0.65 per share and revenues of $531 million to $541 million.

For the fourth quarter, the company expects adjusted earnings of $1.37 to $1.42 per share and revenues of $698 million to $708 million.

For the full year, the company now sees adjusted earnings of $3.06 to $3.16 per share and revenues of $2.158 billion to $2.178 billion last year. Earlier, the company estimated adjusted earnings of $3.02 to $3.15 per share on revenues of $2.15 billion to $2.18 billion.

Analysts currently estimate earnings of $3.11 per share on revenues of $2.17 billion for the quarter.