Pacific Sunwear Of California Q3 Profit Soars; Issues Q4 Outlook - Quick Facts

(RTTNews) - Pacific Sunwear of California Inc. (PSUN) Thursday said third-quarter net income was $17.2 million, or $0.23 per share, compared to $0.9 million, or $0.01 per share in the comparable quarter last year.

Income from continuing operations was $17.2 million, or $0.23 per share, up from $3.4 million, or $0.05 per share last year.

Non-GAAP loss from continuing operations was $3.6 million or $0.05 per share, wider than $1.4 million or $0.02 per share in the prior year quarter. On average, 13 analysts polled by Thomson Reuters expected the company to report loss of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues totaled $206.58 million, down from $215.48 million in the comparable quarter last year. Analysts expected revenues of $205.01 million.

Looking ahead to the fourth quarter, the company expects to report adjusted loss per share from continuing operations of between negative $0.17 and negative $0.12 per share. Revenues are projected in a range of $216 million to $225 million.

Analysts, based on consensus, currently expect the company to report a fourth quarter loss of $0.11per share on revenues of $218.67 million.