Stein Mart Profit Falls 26% In Q2

(RTTNews) - Stein Mart (SMRT) revealed earnings for second quarter that decreased from last year.

The company said its earnings dropped to $3.01 million, or $0.06 per share. This was down from $4.09 million, or $0.09 per share, in last year's second quarter.

Analysts had expected the company to earn $0.07 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.6% to $319.76 million. This was up from $311.58 million last year.

Stein Mart earnings at a glance:

-Earnings (Q2): $3.01 Mln. vs. $4.09 Mln. last year. -Earnings Decline (Y-o-Y): -26.4% -EPS (Q2): $0.06 vs. $0.09 last year. -EPS Decline (Y-o-Y): -33.3% -Analysts Estimate: $0.07 -Revenue (Q2): $319.76 Mln vs. $311.58 Mln last year. -Revenue Change (Y-o-Y): 2.6%