VRA Vera Bradley beats by $0.01, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY12 EPS in-line, revs in-line (47.66 -1.77)
Reports Q1 (Apr) earnings of $0.28 per share, $0.01 better than the Thomson Reuters consensus of $0.27; revenues rose 19.3% year/year to $101.4 mln vs the $100.2 mln consensus. For the first quarter, gross profit rose 16% to $56.4 million, and gross margin was 55.7%, compared to expectations of 55.8% and 57.4% in the first quarter of fiscal 2011. Co issues upside guidance for Q2, sees EPS of $0.27-0.29 vs. $0.26 Thomson Reuters consensus; sees Q2 revs of $95-98 mln vs. $94.85 mln Thomson Reuters consensus. Co issues in-line guidance for FY12, sees EPS of $1.27-1.30 vs. $1.28 Thomson Reuters consensus; sees FY12 revs of $430-435 mln vs. $433.69 mln Thomson Reuters consensus. "Our performance reflects significant demand for Vera Bradley as we expand our product offerings and increase our presence in underpenetrated markets. In addition, we have some exciting new initiatives underway, including the introduction of our brand in Japan and our initial entry into the department store channel."
