Sharper Image Posts 34% Gain in Revenue; Profit Surges

Sharper Image Corp. said Thursday that fiscal first-quarter revenue rose 34% because of higher Internet and catalog sales.

The San Francisco-based chain of 120 gadget stores reported earnings of $2.1 million, or 13 cents a share, on revenue of $156.4 million in the quarter ended April 30.

In the same period last year, it earned $678,000, or 5 cents a share, on revenue of $116.3 million.

Analysts were expecting earnings of 12 cents a share, according to Thomson First Call.

Sales at stores open more than one year, or same-store sales, rose 8%. Total store sales rose 26% to $81.4 million from $64.8 million a year earlier.

Catalog and direct-marketing sales rose to $45.1 million from $32.2 million. Internet sales rose to $26.2 million from $16.6 million a year earlier.

The company expects to open 26 stores during the fiscal year. The retailer opened five stores during the first quarter.

Sharper Image forecast fiscal second-quarter earnings of 9 cents to 11 cents a share, in line with analysts’ forecasts of 10 cents. Last year the company earned 5 cents a share.

Sharper Image reported results after the close of Nasdaq, which saw its shares end at $26.60, down $1.12, or 4%. In extended trading, they rose 63 cents, to $27.23.