Dollar Tree Q3 Profit Down, Results Miss Estimates - Quick Facts

(RTTNews) - Discount stores operator Dollar Tree, Inc. (DLTR) reported that its third-quarter net income declined to $125.4 million from $155.4 million in the same quarter last year.

Earnings per share for the third quarter were $0.58, compared to the $0.68 earnings per share reported for the quarter ended October 27, 2012, which included a one-time gain of $0.17 per diluted share relating to the Company's sale of its ownership interest in Ollie's Holdings, Inc.

The Company's earnings per share of $0.58 in the third quarter 2013 increased 13.7% compared to the third quarter 2012 earnings per share of $0.51, absent the Ollie's gain. Analysts polled by Thomson Reuters expected the company to report earnings of $0.60 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated net sales for the third quarter were $1.88 billion, a 9.5% increase compared to $1.72 billion last year. Twenty three analysts estimated revenues of $1.91 billion for the quarter. Comparable store sales increased 3.1%.

The company estimates sales for the fourth quarter of 2013 to be in the range of $2.25 billion to $2.31 billion, based on a range of low-single digit positive comparable store sales. Earnings per share are estimated to be in the range of $1.01 to $1.07. Analysts expect the company to report earnings of $1.10 per share and revenues of $2.32 billion for the fourth-quarter.

Looking ahead for fiscal 2013, earnings per share are expected to be $2.72 to $2.78. Full year sales are estimated to be in the range of $7.86 billion to $7.92 billion. Street currently is looking for fiscal year 2013 earnings of $2.82 per share on annual revenues of $7.95 billion.

The company said in August that it expected earnings per share of $2.65 to $2.77, on sales in a range of $7.85 billion to $7.97 billion for fiscal 2013.