UPDATE: Conn's Posts Downbeat Q2 Profit
Conn's (NASDAQ: CONN) reported a 65% rise in its fiscal second-quarter profit.
Conn's quarterly profit surged to $19.2 million, or $0.52 per share, from $11.6 million, or $0.35 per share, in the year-ago period.
Its revenue rose 30% to $270.7 million, while same-store sales increased 18%. However, analysts were estimating earnings of $0.60 per share on revenue of $260 million.
Conn's retail gross margin widened to 38.3% from 34.1%.
Conn's shares dropped 12.17% to $60.00 in pre-market trading.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.