Boston, MA 06/12/2014 (wallstreetpr) – Restoration Hardware Holdings Inc (NYSE:RH), merchants of home furnishings, provided a much needed vitamin to investors that will have the potential to take the stock to a yearly high. The company boosted its earnings, as well as, revenue forecast for the fiscal year 2015 and guided adjusted earnings per share above the Street expectations. It has also delivered strong numbers for the first quarter. This positive news is likely to stimulate investors to throng the counter when the market opens on Thursday.
FY15 Outlook Increased
Restoration Hardware Holdings Inc (NYSE:RH) has boosted its adjusted earnings per share to $2.24 – $2.30 from $2.14 – $2.22 for the fiscal year 2015. The revised guidance of the lower end itself is higher than the Street analysts’ expectations of $2.20 a share.
Similarly, revenue forecast has also been lifted to $1.86 – $1.89 billion from $1.83 – $1.86 billion projected earlier by it. This meant that the mid-point is $1.87 billion, which is what the Street analysts are expecting the company to generate as revenue.
For the second quarter, Restoration Hardware sees adjusted net income between $25.4 million or 62 cents a share and $26.2 million or 64 cents a share. The guidance is above the analysts’ estimation of 61 cents a share.
On the revenue side, the company looks to generate $443 – $453 million for the second quarter. Analysts’ are estimating $452.11 million.
1Q Results
Restoration Hardware Holdings Inc (NYSE:RH) reported net income of $1.8 million or 4 cents a share for the first quarter compared to a net loss of $161K in the year earlier quarter. On an adjusted basis, it earned profit of $7.2 million or 18 cents a share, sharply up from $2.3 million or 6 cents a share in the year-ago quarter. Street predicted Restoration Hardware to earn 11 cents a share.
Net revenues grew 22% to $366.3 million from $301.3 million in the previous year quarter. Its comparable store sales advanced 18% compared to a 39% uptick in the last year quarter. Analysts were expecting the company to generate revenue of $346.7 million.
