UPDATE: Conn's Posts Upbeat Q1 Profit, Lifts Full-Year Forecast
Conn's Inc (NASDAQ: CONN) reported a stronger-than-expected first-quarter profit and lifted its full-year earnings forecast.
Conn's now projects full-year earnings of $1.30 to $1.40 per share, versus its earlier forecast of $1.20 to $1.30 per share.
Conn's quarterly earnings surged to $11.5 million, $0.35 per share, versus $4.4 million, or $0.14 per share, in the year-ago period. However, analysts were expecting a profit of $0.33 per share.
Its revenue gained 5% to $200.9 million, while same-store sales surged 17.8%.
Its gross margins rose to 33.7%, from 30.5%.
Conn's shares closed at $17.71 on Friday.
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