Zumiez tops 2Q net income expectations, misses revenue forecasts

MarketsAssociated Press

Zumiez Inc. (ZUMZ) on Thursday reported fiscal second-quarter earnings of $7.5 million.

On a per-share basis, the Lynnwood, Washington-based company said it had net income of 26 cents. Earnings, adjusted for costs related to mergers and acquisitions, were 27 cents per share.

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The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The company posted revenue of $176.7 million in the period, missing Street forecasts. Analysts expected $177.3 million, according to Zacks.

For the current quarter ending in October, Zumiez said it expects revenue in the range of $207 million to $211 million. Analysts surveyed by Zacks had expected revenue of $208.8 million.

Zumiez shares have increased 25 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $32.41, a climb of 24 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap ) using data from Zacks Investment Research. A stock research report on ZUMZ from Zacks is available at: http://www.zacks.com/ap/ZUMZ

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Keywords:Zumiez,Earnings Report