Conn's, Inc., a retailer of home appliances, consumer electronics, home office products, and lawn and garden products, announced record results for the quarter and 6-month period ended July 31, 2004.
Net revenues for the quarter ended July 31, 2004 increased 16.6 percent to U.S. $136.6 million compared with $117.1 million for the quarter ended July 31, 2003. This increase in revenue included net sales increases of $16.1 million, or 15.7 percent. Same store sales increased 7.2 percent for the second quarter of fiscal 2005.
Net revenues for the 6 months ended July 31, 2004 increased 14.1 percent to $271.5 million compared with $237.9 million for the 6 months ended July 31, 2003. This increase in revenue included net sales increases of $28.0 million, or 13.4 percent. Same store sales increased 5.3 percent for the first 6 months of fiscal 2004.
"We continue to be pleased with our progress since becoming a public company," said Thomas J. Frank, Conn's chairman and CEO. "The continuation of our efforts to push our primary business in appliances and electronics and the emphasis that we have placed on track sales, bedding and lawn and garden categories seems to be providing positive results, both at the top and bottom lines."
The company also issued guidance for the third quarter ended Oct. 31, 2004 of earnings per diluted share of approximately $0.25 to $0.27. Guidance issued for the entire year continues to include earnings per diluted share of approximately $1.24 to $1.26.
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