Cabela's Q1 Profit Halves, Misses View; Backs 2014 Outlook - Quick Facts

(RTTNews) - Specialty retailer Cabela's Inc. (CAB) reported Thursday that first-quarter net income nearly halved to $25.75 million or $0.36 per share from $49.85 million or $0.70 per share in the prior-year quarter.

Total revenue for the quarter declined 9.6 percent to $725.82 million from $802.50 million in the same quarter last year. comparable store sales decreased 21.7 percent.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.37 per share on revenues of $733.53 million. Analysts' estimates typically exclude special items.

Looking ahead to the second quarter, the company expects earnings in a range of $0.45 to $0.55 per share, on anticipated revenue growth at a low single-digit rate. Analysts anticipate earnings of $0.61 per share on revenues of $603.59 million.

For the third quarter, the company expects earnings in a range of $0.85 to $0.95 per share, on projected revenue increase at a low double-digit rate.

For fiscal 2014, the company continues to expect earnings per share to increase at a high single-digit to low double-digit rate from last year's adjusted earnings of $3.32 per share, on projected revenue growth at a mid to high single-digit rate. Street is currently looking for full-year 2014 earnings of $3.59 per share on annual revenues of $3.90 billion.