Dick's Sporting Goods Up 1% After Reporting Earnings

Shares of Dick's Sporting Goods

are up 1% after the company reported earnings this morning. The Company reported consolidated net income for the fourth quarter ended January 28, 2012 of $111.1 million, or $0.88 per diluted share, at the high end of the Company's revised expectations provided on January 12, 2012 of $0.87 to 0.88 per diluted share. The Company reported consolidated non-GAAP net income of $94.0 million, or $0.76 per diluted share, for the fourth quarter ended January 29, 2011, excluding an after-tax charge of $6.5 million, or $0.05 per diluted share, from litigation settlement costs. On a GAAP basis, the Company reported consolidated net income for the fourth quarter ended January 29, 2011 of $87.5 million, or $0.71 per diluted share. Net sales for the fourth quarter of 2011 increased by 6.1% to $1.6 billion as compared to the fourth quarter of 2010 due primarily to the growth of the Company's store network and a 0.1% increase in consolidated same store sales. The consolidated same store sales increase was in line with the Company's revised expectations provided on January 12, 2012 and consisted of a 2.5% decrease at Dick's Sporting Goods stores, a 9.0% increase at Golf Galaxy and a 52.0% increase in the Company's eCommerce business.