Restoration Hardware Beats 2Q Net Income Estimates

Features Associated Press

Restoration Hardware Holdings Inc. (RH) on Wednesday reported earnings of $27.3 million in its fiscal second quarter.

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The Corte Madera, California-based company said it had profit of 66 cents per share. Earnings, adjusted for non-recurring costs, were 67 cents per share.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The furniture and housewares company posted revenue of $433.8 million in the period, missing Street forecasts. Analysts expected $453.6 million, according to Zacks.

For the current quarter ending in October, Restoration Hardware expects its per-share earnings to range from 46 cents to 48 cents.

The company said it expects revenue in the range of $475 million to $485 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $479 million.

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Restoration Hardware expects full-year earnings in the range of $2.29 to $2.33 per share, with revenue ranging from $1.85 billion to $1.87 billion.

Restoration Hardware shares have risen 23 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $82.54, a rise of 8.5 percent in the last 12 months.