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Conn’s, Inc., a specialty retailer of home appliances, consumer electronics, computers, and lawn and garden products, announced earnings results for the quarter and year ended Jan. 31, 2007.
Net income for the fourth fiscal quarter decreased 1.0 percent to U.S. $12.7 million compared with $12.8 million for the fourth quarter of last year. Diluted earnings per share available for common stockholders were $0.52 compared with $0.52 for the fourth quarter of last year. Total revenues for the quarter ended Jan. 31, 2007 increased 3.2 percent to $212.6 million compared with $206.1 million for the quarter ended Jan. 31, 2006. This increase in revenue included increases in “Finance charges and other” of $2.2 million, or 10.3 percent, and an increase in net sales of $4.3 million, or 2.3 percent. Same store sales (revenues earned in stores operated for the entirety of both periods) decreased 2.2 percent for the fourth quarter of fiscal 2007. As previously disclosed, the same store sales increase for the quarter ending Jan. 31, 2006 of 22.6 percent was positively impacted 700 to 900 basis points by hurricanes Katrina and Rita.
Net income for the year ended Jan. 31, 2007 decreased 1.9 percent to $40.3 million compared with $41.1 million for the prior year. Diluted earnings per share available for common stockholders for the year ended Jan. 31, 2007 were $1.66 compared with $1.71 for last year. Total revenues for the year ended Jan. 31, 2007 increased 8.5 percent to $760.7 million compared with $701.1 million for the year ended Jan. 31, 2006. This increase in revenue included net sales increases of $56.2 million, or 9.1 percent, and increases in “Finance charges and other” of $3.3 million, or 4.1 percent. Same store sales (revenues earned in stores operated for the entirety of both periods) increased 3.6 percent for fiscal 2007.
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