Zumiez Q4 Profit Rises - Quick Facts

(RTTNews) - Zumiez Inc. (ZUMZ) reported net income for the fourth quarter of $26.9 million, or $0.89 per share, compared to $22.9 million, or $0.74 per share in the year-ago quarter.

Total net sales for the latest fourth quarter increased 1.1% to $226.84 million from $224.41 million a year ago. Same-store sales for the quarter decreased 2.2%.

Analysts polled by Thomson Reuters expected the company to earn $0.62 per share on revenue of $226.16 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecast net loss per share of approximately $0.02 to net income per share of about $0.03, which includes $0.6 million, or approximately $0.02 per diluted share, for the amortization of intangible assets associated with Blue Tomato. Net sales are expected to be in the range of $156 million to $160 million.

Analysts currently expect the company to earn $0.11 per share on revenue of $160.10 million for the first quarter.

The company also announced that, effective March 12, 2014, its Board of Directors has approved the repurchase of up to an additional $30 million of its Common Stock. The new purchase program is in addition to its existing stock repurchase program that was authorized in December 2013 and will begin once the previously approved repurchase program has been completed.