Restoration Hardware: Fiscal 2Q Earnings Snapshot
CORTE MADERA, Calif. (AP) _ Restoration Hardware Holdings Inc. (RH) on Tuesday reported fiscal second-quarter profit of $63.8 million.
On a per-share basis, the Corte Madera, California-based company said it had net income of $2.86. Earnings, adjusted for non-recurring costs, came to $3.20 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.70 per share.
The furniture and housewares company posted revenue of $706.5 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $698 million.
For the current quarter ending in November, Restoration Hardware expects its per-share earnings to range from $2.08 to $2.18. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.83.
The company said it expects revenue in the range of $672 million to $678 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $669 million.
Restoration Hardware expects full-year earnings in the range of $10.53 to $10.76 per share, with revenue ranging from $2.68 billion to $2.69 billion.
Restoration Hardware shares have increased 33% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $158.83, an increase of 26% in the last 12 months.