Kirkland's Q3 Profit Tops View - Quick Facts

(RTTNews) - Kirkland's, Inc. (KIRK) Thursday reported third-quarter net income of $1.3 million or $0.07 per share, compared to $1.0 million or $0.06 per share in the comparable quarter last year. On average, seven analysts polled by Thomson Reuters expected the company to report loss per share of $0.03 for the quarter. Analysts' estimates typically exclude special items.

Net sales for the latest third quarter rose 10.4 percent to $117.20 million from $106.13 million a year ago, with comparable store sales, including e-commerce sales, rising 6.3 percent compared with a decrease of 4.9 percent in the prior-year quarter. Analysts had consensus revenue estimate of $114.39 million.

Looking ahead, for the fourth quarter, the company expects net earnings per share in the range of $0.77-$0.84, on net sales of $172 million - $175 million, with a comparable store sales increase in the range of 5 percent - 6 percent. Analysts project earnings of $0.84 per share on revenues of $171.88 million.

For fiscal 2014, the company now expects earnings in the range of $0.90 to $0.97 per share and net sales of $501 million to $504 million, with a comparable store sales increase of about 4.5 to 5.5 percent. Analysts now expect earnings of $0.92 per share on revenues of $497.90 million.