Dicks Sporting Goods Falls After Q2 Earnings

Dick's Sporting Goods DKS released its fiscal second-quarter earnings results prior to the opening bell on Tuesday. The stock has been trending down throughout the day's trading session, and at last check Dick's Sporting Goods had lost almost 5 percent to $48.13. The company reported net income of $53.7 million or $0.43 per share, compared to $73.8 million or $0.59 per share, in the year ago period. On a non-GAAP basis, the company reported net income of $81.3 million or $0.65 per share, compared to $65.1 million or $0.52 per share, in last year's corresponding quarter. This came in a penny better than Wall Street analysts' consensus EPS estimates of $0.64. Revenues in the quarter were up 10 percent to $1.4 billion. This missed analysts' consensus revenue estimates of $1.44 billion. Looking ahead to the third-quarter, the company sees earnings per share of approximately $0.36. This is in-line with analysts' consensus estimates for the third-quarter. The company said that it expects consolidated same store sales to increase 4% for the third-quarter. Looking ahead to fiscal 2012, the company anticipates non-GAAP earnings per share of approximately $2.47 to $2.51. Currently analysts anticipate Dick's Sporting Goods to report earnings per share of $2.51 for fiscal 2012.