UPDATE: Conns Posts Higher Q1 Earnings, Lifts Forecast

Conns

reported a 92% rise in its fiscal first-quarter earnings. For the fiscal year, Conns lifted its earnings forecast to $2.50 to $2.65 per share on same-store sales growth of 8% to 13%. The company had earlier expected earnings of $2.40 to $2.50 per share on same-store sales growth of 3% to 8%. Conns quarterly profit surged to $22.2 million, or $0.61 per share, versus $11.6 million, or $0.35 per share, in the year-ago period. Its revenue rose 25% to $251.1 million. However, analysts were expecting earnings of $0.56 per share on revenue of $247 million. Conns same-store sales climbed 17%. Conns shares gained 8.21% to $52.44 in pre-market trading.