Zumiez Q2 Profit Rises; Issues Q3 Outlook - Quick Facts

(RTTNews) - Zumiez Inc. (ZUMZ) reported net income for the second quarter of $4.7 million, or $0.16 per share, compared to $2.1 million, or $0.07 per share in the year-ago quarter.

The latest quarter results include $1.7 million, or $0.04 per share, for charges associated with the acquisition of Blue Tomato, and the results for fiscal 2012 include approximately $2.4 million, or $0.06 per share, of Blue Tomato acquisition charges.

Total net sales for the second quarter increased 16.9% to $157.86 million from $135.07 million a year ago. Same-store sales for the quarter decreased 0.9%.

Analysts polled by Thomson Reuters expected the company to earn $0.17 per share on revenue of $157.78 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecast earnings of $0.39 to $0.43 per share, which includes an estimated about $0.04 per share for charges associated with the acquisition of Blue Tomato. Net sales are expected to be in the range of $187 million to $191 million.

Analysts currently expect the company to earn $0.55 per share on revenue of $199.31 million for the third quarter.

The company currently intends to open 58 new stores in fiscal 2013, including 9 stores in Canada and 5 stores in Europe.