Big 5’s Profit Jumps 21%, Beating Expectations
From the Associated Press
Big 5 Sporting Goods Corp. said its second-quarter profit rose 21% and soundly beat internal and Wall Street expectations.
Net income grew to $7.4 million, or 33 cents a share, from $6.1 million, or 27 cents, a year earlier. The El Segundo-based company said results were shaved by 2 cents a share for stock options expenses.
Revenue rose 7% to $211.8 million from $198.1 million a year earlier as same-store sales, or sales at locations open at least one year, increased 2.9%.
Analysts surveyed by Thomson Financial had expected earnings of 26 cents a share on revenue of $212.3 million.
