Conn's 4th-quarter profit more than doubles

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Associated Press

Posted on April 3, 2013 at 11:02 AM

THE WOODLANDS, Texas (AP) — Conn's fiscal fourth-quarter net income more than doubled amid strong sales of mattresses and furniture and increased revenue in the credit division.

The company based in The Woodlands raised its fiscal 2014 earnings forecast on Wednesday to between $2.40 and $2.50 per share. Its previous outlook was for $2.05 to $2.15 per share.

Conns — which also sells consumer electronics and other items — earned $17.7 million, or 50 cents per share, for the three months ended Jan. 31, up from $7.7 million, or 24 cents per share, a year ago.

Revenue increased 10 percent to $250.3 million.

For the year, Conn's Inc. earned $52.6 million, or $1.56 per share. The company lost $3.7 million, or 12 cents per share, in the prior year.

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