Restoration Hardware: Fiscal 3Q Earnings Snapshot
CORTE MADERA, Calif. (AP) _ Restoration Hardware Holdings Inc. (RH) on Monday reported fiscal third-quarter net income of $22.4 million.
On a per-share basis, the Corte Madera, California-based company said it had net income of 81 cents. Earnings, adjusted for non-recurring costs, were $1.73 per share.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The furniture and housewares company posted revenue of $636.6 million in the period. Its adjusted revenue was $638.5 million, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $632.6 million.
For the current quarter ending in January, Restoration Hardware expects its per-share earnings to range from $2.75 to $2.90. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.51.
The company said it expects revenue in the range of $680 million to $690 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $681 million.
Restoration Hardware expects full-year earnings in the range of $8.33 to $8.47 per share, with revenue ranging from $2.52 billion to $2.53 billion.
Restoration Hardware shares have risen 44 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $123.72, a rise of 21 percent in the last 12 months.