Big Lots Q4 EPS From Cont. Ops. Tops View; Issues FY15 Outlook - Quick Facts

(RTTNews) - Big Lots Inc. (BIG) reported fourth-quarter income from continuing operations of $93.98 million, or $1.76 per share, compared to $84.23 million or $1.45 per share, last year. On average, 15 analysts polled by Thomson Reuters expected the company to earn $1.75 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales from continuing operations increased 1.4% to $1.59 billion from $1.57 billion in the comparable quarter last year. Comparable store sales increased 2.9% for the quarter. Analysts expected revenue of $1.59 billion for the quarter.

Looking ahead to the first quarter, the company expects income from continuing operations to be in the range of $0.55 to $0.60 per share. Analysts currently expect the company to report first-quarter earnings per share of $0.65.

For fiscal 2015, Big Lots expects income from continuing operations to be in the range of $2.75 to $2.90 per share. Analysts expect the company to report fiscal 2015 earnings per share of $2.94.

Big Lots expects its first-quarter comparable store sales increase in the 1% to 2% range and fiscal 2015 comparable store sales increase in the low single digit range. The company expects fiscal 2015 total sales to be approximately flat.

As announced in a separate press release, on March 4, 2015, the Board of Directors increased the company's quarterly dividend payment rate by about 12% by declaring a quarterly cash dividend for the first quarter of fiscal 2015 of $0.19 per common share. This dividend is payable on April 3, 2015, to shareholders of record as of the close of business on March 20, 2015.

On March 4, 2015, the Board of Directors approved a share repurchase program providing for the repurchase of up to $200 million of common shares. The $200 million authorization is expected to be utilized to repurchase shares in the open market and/or in privately negotiated transactions at the company's discretion, subject to market conditions and other factors. The 2015 Share Repurchase Program is eligible to begin on March 11, 2015 and will continue until exhausted.