Restoration Hardware Swings To Q2 Profit

(RTTNews) - Restoration Hardware Holdings, Inc. (RH) reported net income for the second quarter of $27.3 million or $0.66 per share, compared to a net loss of $17.8 million or $0.46 per share for the same quarter last year.

Excluding items, adjusted net income for the second quarter increased to $27.7 million or $0.67 per share from $19.8 million or $0.49 per share in the prior year quarter.

Net revenues for the second quarter rose 14% to $433.8 million from $382.1 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.64 per share on revenue of $459.38 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts net revenues of $475 million to $485 million and adjusted earnings $0.46 to $0.48 per share. Analysts currently estimate earnings of $0.43 per share on revenue of $478.96 million for the third quarter.

For the fiscal year ending January 31, 2015, the company now forecasts net revenues $1.85 billion to $1.87 billion and adjusted earnings of $2.29 to $2.33 per share. Previously, the company forecast net revenues of $1.86 billion to $1.89 billion and adjusted earnings of $2.24 to $2.30 per share. Analysts currently estimate earnings of $2.31 per share on revenues of $1.88 billion for the full year.