Carter's Q2 Profit Rises

(RTTNews) - Carter's, Inc. (CRI) a company that deals in branded children's wear, Thursday reported second quarter net income of $19.7 million, down 5.4% from $20.8 million reported a year back. On a per share basis, earnings totaled $0.33 versus $0.35 posted last year.

On an adjusted basis the company posted a net income of $27.7 million, or $0.46 per share compared to $22.4 million, or $0.37 per share in last year quarter. Ten analysts on average polled by Thomson Reuters estimated earnings per share of $0.43 for the period. Analysts estimates typically exclude one-time items.

Consolidated net sales for the quarter increased 9.7% to $517.9 million from $472.2 million reported last year.

Looking ahead, the company expects adjusted earnings per share to increase in the low single digit percentage range for the third quarter. For fiscal 2013, the Company expects net sales to increase approximately 8% to 10% and adjusted earnings per share to increase approximately 15% to 17%