Vera Bradley Q4 Results Miss Estimates; Outlook Weak

(RTTNews) - Handbag maker Vera Bradley, Inc. (VRA) reported net income for the fourth quarter of $17.3 million or $0.43 per share, compared to $19.5 million or $0.48 per share for the year-ago quarter.

The latest quarter results include a net after-tax benefit of $0.2 million, while the prior year quarter results included an after-tax inventory write-down of $3.0 million or $0.07 per share.

Net revenues for the fourth quarter fell to $152.6 million from $156.4 million in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.45 per share on revenue of $160.27 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecasts net revenues of $103 million to $109 million and earnings per share from continuing operations of $0.00 to $0.03. Analysts currently expect the company to earn $0.16 per share on revenue of $121.85 million for the first quarter.

For the fiscal year 2016, the company forecasts net revenues of $510 million to $525 million and earnings per share from continuing operations of $0.82 to $0.92. Analysts currently expect the company to earn $1.19 per share on revenue of $567.39 million for the fiscal year 2016.

Vera Bradley shares are currently trading at $15.07, down $2.99 or 16.57%.