Conn's Reports Q2 Results
Aug 31, 2005
 Print this page

Conn's, Inc., a retailer of home appliances, consumer electronics, computers, and lawn and garden products, announced record results for the second quarter and 6 months ended July 31, 2005.

Net income for the second quarter increased 37.3 percent to U.S. $9.3 million compared to $6.8 million for the second quarter of last year. Diluted earnings per share were $0.39 compared with $0.29 for the second quarter of last year. Total revenues for the quarter ended July 31, 2005 increased 20.3 percent to $164.4 million compared with $136.6 million for the quarter ended July 31, 2004.

This increase in revenue included net sales increases of $25.0 million, or 21 percent, and increases from "Finance charges and other" of $2.8 million, or 15.6 percent. Same store sales increased 12.1 percent for the second quarter.

Net income for the 6 months ended July 31, 2005 increased 31.3 percent to $19.1 million compared to $14.6 million for the six months ended July 31, 2004. Diluted earnings per share were $0.80 compared with $0.61 for the first 6 months of last year.

Total revenues for the 6 months ended July 31, 2005 increased 18.8 percent to $322.5 million compared with $271.5 million for the 6 months ended July 31, 2004. This increase in revenue included net sales increases of $45.4 million, or 19.1 percent, and increases from "Finance charges and other" of $5.7 million, or 16.6 percent. Same store sales increased 10 percent for the 6 months ended July 31, 2005.

During the second quarter, the company continued its expansion into the Dallas/Fort Worth Metroplex in Texas with the opening of two additional stores, bringing the , U.S. store count in this market to eleven as of July 2005. Along with a new store opened in Harlingen, Texas, the first week of August 2005, this brings the company's total store count to 54. The company's continuing development efforts could result in the company operating 56 to 58 stores by the end of January 2006.

In early September, the company expects to begin distributing product in the Dallas/Forth Worth market from its new 150,000-square-foot distribution center located between Dallas and Forth Worth and will expand its existing service center to better serve the market.

Back to Breaking News