Dollar Tree posts profit of $121.5 million in 2nd quarter

Markets Associated Press

Dollar Tree Inc. (DLTR) on Thursday reported net income of $121.5 million in its fiscal second quarter.

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On a per-share basis, the Chesapeake, Virginia-based company said it had net income of 59 cents. Earnings, adjusted for non-recurring costs, came to 61 cents per share.

The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The discount retailer posted revenue of $2.03 billion in the period, which beat Street forecasts. Analysts expected $2.01 billion, according to Zacks.

For the current quarter ending in October, Dollar Tree expects its per-share earnings to range from 61 cents to 66 cents.

The company said it expects revenue in the range of $2.02 billion to $2.07 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $2.05 billion.

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Dollar Tree also released its full-year outlook. It expects annual earnings to be in the range of $2.94 to $3.06, with revenue ranging from $8.44 billion to $8.55 billion.

Dollar Tree shares have dropped 2.5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.5 percent. The stock has risen almost 6 percent in the last 12 months.

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This story was generated automatically by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. Full DLTR report: http://www.zacks.com/ap/DLTR

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Keywords:Dollar Tree,Earnings Report