Stein Mart Turns To Profit In Q3 - Quick Facts

(RTTNews) - Stein Mart Inc. (SMRT) reported third-quarter net income of $28 thousand or breakeven per share, compared to a net loss of $1.7 million or $0.04 per share, prior year.

On average, four analysts polled by Thomson Reuters expected the comapny to report breakeven per share for the quarter. Analysts' estimates typically exclude special items.

EBITDA was $6.9 million, compared to $2.8 million, previous year.

Total sales increased 6.1 percent year-over-year to $290.5 million, from $273.7 million. Comparable store sales increased 4.8 percent. Analysts expected revenue of $287.94 million, for the quarter.

Stein Mart expects its gross profit rate for the fourth quarter to be approximately 100 basis points lower than last year's fourth quarter.