Originally published at www.seclive.com
Conn's Inc. (NASDAQ:CONN) announced its first quarter financial results for the fiscal year 2014, reporting a rise in earnings from a year ago. The specialty retailer posted revenue of $335.45M, a 33.6% increase from the year-ago $251.06M, beating expectations of $328.52M. Furniture and mattress sales rose 65%, contributing nearly one-third of total product revenue. Earnings rose from $22.18M and $0.61 per share a year ago to $28.47M and $0.77 per share, with adjusted earnings of $0.80 per share exceeding analyst $0.73 expectations. Chairman and CEO Theodore Wright commented that the company incurred a significant cost increase during the quarter due to more stores opening, and re-affirmed the company's previously stated earnings range between $3.40 and $3.70 per share.
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