Stein Mart Earnings Drop 38% In Q3

(RTTNews) - Stein Mart (SMRT) revealed a profit for third quarter that retreated compared to the same period last year.

The company said its bottom line declined to $0.59 million, or $0.01 per share. This was down from $0.95 million, or $0.02 per share, in last year's third quarter.

Analysts had expected the company to earn -$0.05 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.0% to $300.67 million. This was down from $303.67 million last year.

Stein Mart earnings at a glance:

-Earnings (Q3): $0.59 Mln. vs. $0.95 Mln. last year. -Earnings Decline (Y-o-Y): -37.9% -EPS (Q3): $0.01 vs. $0.02 last year. -EPS Decline (Y-o-Y): -50.0% -Analysts Estimate: -$0.05 -Revenue (Q3): $300.67 Mln vs. $303.67 Mln last year. -Revenue Change (Y-o-Y): -1.0%