Sportsman's Warehouse Q2 Results Top Estimates

(RTTNews) - Sportsman's Warehouse Holdings, Inc. (SPWH) reported net income for the second quarter of $5.1 million or $0.12 per share, compared to $7.7 million or $0.23 per share for the year-ago quarter.

Excluding items, adjusted earnings per share for the second quarter were $0.12, compared to $0.18 in the second quarter of last year.

Net sales for the second quarter rose 2.3% to $159.5 million from $155.9 million a year ago. Same-store sales for the quarter decreased by 6.1%, mainly as a result of the decline in demand for firearms and ammunition.

Analysts polled by Thomson Reutesr expected the company to earn $0.10 per share on revenue of $155.77 million for the second quarter.

Looking forward to the third quarter, the company forecasts net sales of $183.0 million to $188.0 million and earnings per share of $0.19 to $0.20. Analysts currently expect the company to earn $0.21 per share on revenue of $187.61 million for the third quarter. For fiscal 2014, the company still forecasts net sales of $665.0 million to $675.0 million, earnings per share of $0.43 to $0.48 and adjusted earnings per share of $0.47 to $0.52. Analysts currently expect the company to earn $0.51 per share on revenue of $672.35 million for the fiscal 2014.