Citi Trends Q3 Profit Increases, beats estimates

(RTTNews) - Citi Trends (CTRN) released earnings for its third quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $24.588 million, or $3.02 per share. This compares with $9.014 million, or $1.03 per share, in last year's third quarter.

Excluding items, Citi Trends reported adjusted earnings of $1.970 million or $0.24 per share for the period.

Analysts on average had expected the company to earn -$0.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 15.6% to $192.323 million from $227.959 million last year.

Citi Trends earnings at a glance (GAAP) :

-Earnings (Q3): $24.588 Mln. vs. $9.014 Mln. last year. -EPS (Q3): $3.02 vs. $1.03 last year. -Analyst Estimate: -$0.06 -Revenue (Q3): $192.323 Mln vs. $227.959 Mln last year.