DG Rises On 64% Jump In Q1 Net Income

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today reported a 64% jump in its Q1 net income from the year-ago period, beating Wall Street view. The Goodlettsville, Tennessee based discount retailer recorded its Q1 net income of $136 million, or $0.39 a share, up 64% from $83 million, or $0.26 a share in Q1 2009. While adjusted net income for the period stood at $0.42 per share, sales advanced 11.9% to $3.11 billion. Analysts were expecting the company to earn $0.34 a share on revenue of $3.03 billion. DG raised its guidance of 2010 profit to $1.62-$1.69 a share, from $1.55-$1.63 a share. Market view for the earnings stands at $1.62 a share. Yesterday, shares of DG dropped 2.70% to $29.23, but rose 1.71% to $29.73 in the pre-market session. Read more