Regis Swings To Profit In Q1

(RTTNews) - Regis Corp. (RGS) Thursday announced first quarter profit of $3.281 million compared to a loss of $808 million last year. On a per share basis, earnings were $0.07, compared to loss of $0.02 a year ago. Comprehensive profit for the quarter was $765 thousand.

On average, 3 analysts polled by Thomson Reuters expected the company to earn $0.02 per share. Analysts estimates usually exclude special items.

Revenue for the quarter declined to $431.04 million from $450.13 million in the previous year. Wall Street was expecting $438.77 million.

Dan Hanrahan, president and chief executive officer said, "Over the past years we have sold approximately 200 under-performing salons to franchisees. The franchisees' ability to increase revenues in these salons has been impressive. The plan is to continue to aggressively expand our franchise model and this will be a significant component of Regis' future unit growth."