Restoration Hardware Q3 Results Top Estimates

(RTTNews) - Restoration Hardware Holdings, Inc. (RH) reported net income for the third quarter of $19.4 million or $0.47 per share, compared to $9.5 million or $0.23 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $20.3 million or $0.49 per share, compared to $13.0 million or $0.32 per share in the prior year quarter.

Net revenues for the third quarter rose 22% to $484.7 million from $395.8 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.48 per share on revenue of $481.91 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts net revenues of $575 million to $585 million and adjusted earnings of $0.99 to $1.01 per share. Analysts currently expect the company to earn $1.00 per share on revenue of $582.84 million for the fourth quarter.

For the fiscal year ending January 31, 2015, the company now forecasts net revenues of $1.86 billion to $1.87 billion and adjusted earnings of $2.33 to $2.35 per share. Previously, the company forecast net revenues of $1.85 billion to $1.87 billion and adjusted earnings of $2.29 to $2.33 per share.

Analysts currently expect the company to earn $2.33 per share on revenue of $1.86 billion for the fiscal year 2015.