Restoration Hardware soars on earnings beat

The stock jumps more than 11% in after-hours trading as the home-furnishings company widely trumps profit expectations.

By MSN Money Partner Jun 11, 2014 4:51PM
Credit: © Tony Avelar/Bloomberg via Getty Images
Caption: Restoration Hardware storefrontBy Jim Jelter, MarketWatch

Restoration Hardware Holdings (RH) reported late Wednesday a fiscal first-quarter net profit of $1.8 million, or 4 cents a share, reversing a year-ago loss of $161,000. 

Adjusted to exclude one-time items, the company earned $14 million, or 18 cents a share, up from $4.8 million, or 6 cents a share, a year ago. 

Revenue for the three months ended May 3 rose 22 percent to $366 million from $301 million. 

Analysts surveyed by FactSet, who cite adjusted earnings, had expected the home-furnishings retailer to post a profit of 11 cents a share on $347 million in sales. 

The company raised its full-year fiscal 2014 earnings outlook to $2.24 to $2.30 a share, topping analysts' full-year consensus estimate of $2.21. 

Restoration Hardware shares rose as much as 11 percent on the report in after-hours trade.

Tags: RH
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