Hot Topic Jumps on Q4 Profit
Shares of Hot Topic (NASDAQ: HOTT) are trading higher in the after-hours following the release of the company's Q4 earnings results. Currently, shares are higher by 3.53%, trading at $9.10; they ended the regular session lower by 2.12%, at $8.79.
Hot Topic reported Q4 EPS of $0.12 on revenues of $209.9 million. Revenues decreased 1.2% year over year. Total company comparable store sales increased 1.3% for the fourth quarter of fiscal 2011. A summary of the sales results by division was included in the January sales release.
The company's Board authorized an increase in the regular quarterly dividend to $0.08 per share from $0.07 per share, a 14% increase.
Lisa Harper, Chief Executive Officer, commented, "By increasing our quarterly dividend, our Board of Directors has demonstrated its confidence in our strategic direction and our ability to execute to our plan. The strength of our balance sheet and the substantial free cash flow generated by our business provide us with the financial flexibility to return capital to our shareholders in this manner."
Hot Topic, Inc. is a mall and Web-based specialty retailer operating the Hot Topic and Torrid concepts, as well as the e-space music concept, ShockHound.
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