Stein Mart Bottom Line Drops 72% In Q1

(RTTNews) - Stein Mart (SMRT) revealed a profit for first quarter that declined compared to the same period last year.

The company said its bottom line dropped to $3.70 million, or $0.08 per share. This was down from $13.31 million, or $0.29 per share, in last year's first quarter.

Analysts had expected the company to earn $0.19 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.2% to $337.34 million. This was down from $355.71 million last year.

Stein Mart earnings at a glance:

-Earnings (Q1): $3.70 Mln. vs. $13.31 Mln. last year. -Earnings Decline (Y-o-Y): -72.2% -EPS (Q1): $0.08 vs. $0.29 last year. -EPS Decline (Y-o-Y): -72.4% -Analysts Estimate: $0.19 -Revenue (Q1): $337.34 Mln vs. $355.71 Mln last year. -Revenue Change (Y-o-Y): -5.2%