Pier 1 Imports Inc. Q3 Income Declines 57%

(RTTNews) - Pier 1 Imports Inc. (PIR) released earnings for third quarter that lost ground from last year.

The company said its earnings totaled $7.5 million, or $0.09 per share. This was down from $17.6 million, or $0.22 per share, in last year's third quarter.

Analysts had expected the company to earn $0.11 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.4% to $469.16 million. This was down from $475.90 million last year.

Pier 1 Imports Inc. earnings at a glance:

-Earnings (Q3): $7.5 Mln. vs. $17.6 Mln. last year. -Earnings Decline (Y-o-Y): -57.4% -EPS (Q3): $0.09 vs. $0.22 last year. -EPS Decline (Y-o-Y): -59.1% -Analysts Estimate: $0.11 -Revenue (Q3): $469.16 Mln vs. $475.90 Mln last year. -Revenue Change (Y-o-Y): -1.4%

-Guidance: Next quarter EPS guidance: $0.16 to $0.24 Full year EPS guidance: $0.17 to $0.25