Pep Boys Q1 Profit Declines - Quick Facts

(RTTNews) - The Pep Boys - Manny, Moe & Jack (PBY) reported first-quarter net earnings of $1.6 million or $0.03 per share, compared to $3.9 million or $0.07 per share in the comparable quarter last year.

On a pre-tax basis, the latest quarter results include a $1.2 million asset impairment charge and $4.0 million in litigation accruals, while the year-ago results included a $1.2 million asset impairment charge and a $3.8 million tax benefit.

Total revenue for the latest first quarter rose 0.5% to $538.82 million from $536.17 million a year earlier. Comparable sales decreased 1.4%, consisting of an increase of 3.2% in comparable service revenue and a decrease of 2.8% in comparable merchandise sales.

On average, four analysts polled by Thomson Reuters expected the company to earn $0.06 per share on revenue of $542.14 million for the first quarter. Analysts' estimates typically exclude special items.