Mar 14, 2010
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Zumiez fourth quarter beats estimates; sees first quarter loss

Mar 14, 2010

March 11 (Reuters) - Zumiez Inc's (ZUMZ.O) quarterly profit beat market estimates but it forecast a first-quarter loss, sending its shares down 9 percent after the bell.

Supra Vaider Royal shoes at Zumiez.com

The Everett, Washington-based company expects first-quarter loss to be between 9 cents and 11 cents a share, including pre-tax charges.

Analysts had expected a loss of 1 cent a share.

For the fourth quarter, the skate and snow-boarding inspired teen retailer earned $8.8 million, or 29 a share, compared with $6.3 million, or 21 cents a share, in the same quarter last year.

Excluding impairment of store related assets, the company earned 33 cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 5.6 percent to $132.4 million.

Analysts, on average, were looking at earnings of 27 cents a share, on revenue of $131.3 million.

Shares of the company were down at $18.63 after the bell. They had closed at $20.25 Thursday 11 March on Nasdaq. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Maju Samuel)

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