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UPDATE: Hibbett Reports Upbeat Q1 Results, Lifts 2012 Profit Forecast

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Hibbett Sports Inc (NASDAQ: HIBB) reported better-than-expected first-quarter results and lifted its full-year profit view.

Hibbett raised its 2012 earnings forecast to $2.50 to $2.65 per share, versus $2.35 to $2.55 per share.

Hibbett's quarterly net income climbed to $26.4 million, or $0.98 per share, versus $21.3 million, or $0.76 per share, in the year-earlier period.

Hibbett's revenue surged 14% to $232.9 million. However, analysts were expecting earnings of $0.92 per share on revenue of $226.4 million.

Its comparable sales jumped 11%.

Hibbett shares closed at $55.81 yesterday.

Posted-In: profitEarnings News Guidance


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