Despite Good 4th Quarter, Forecast Sends Zumiez (ZUMZ) Shares Down 8%
By Daniel James Hayden IV
March 11, 2010 7:02 PM
March 11, 2010 7:02 PM
Shares of Zumiez Inc. (NASDAQ: ZUMZ) fell more than 8% in after hours trading on Thursday, after the company released an earnings report that contained a negative forecast.
Zumiez Inc. reported 4th quarter earnings of $8.8 million, or 29 cents per share, compared to $6.3 million, or 21 cents per share, a year earlier, while revenue climbed 6% to $132.4 million, up from $125.5 million.
According to a poll of analysts by Thomson Reuters, the average estimate was for earnings of 27 cents per share.
However, Zumiez disappointed investors when it forecast a loss of 9 cents to 11 cents per share for the current quarter. Analysts had expected a loss of just 1 cent per share.
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