Pool Corp. Q3 Net Income Up; Updates FY13 View

(RTTNews) - Pool Corporation (POOL), Thursday reported an increase in earnings for the third quarter, as revenue climbed. Adjusted net income, however, missed the Street estimates. The company also tightened its full-year view.

For the three-month period, the company reported net income of $32.3 million or $0.68 per share, compared with $21.3 million or $0.45 per share last year.

Adjusted net income for the quarter was $0.68 per share. On average, eight analysts polled by Thomson Reuters expected the company to report earnings per share of $0.72 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales increased to $578.1 million, from $528.02 million last year. Analysts expected the company to report revenues of $569.27 million for the quarter.

Based on its year-to-date results, for the full year, the company lowered the upper end of its earlier earnings guidance to $2.03 - $2.08 per share, from $2.03 - $2.13 per share.