Dollar General Q2 Results Top Street; Backs FY13 Targets - Quick Facts

(RTTNews) - Discount retailer Dollar General Corp.'s (DG) second-quarter 2013 net income climbed to $245.48 million, or $0.75 a share, from $214.14 million, or $0.64 a share, in the 2012 period. Adjusted net income totaled $251 million, or $0.77 per share, in the latest quarter. On average, 28 analysts polled by Thomson Reuters expected earnings per share of $0.74 for the quarter. Analysts' estimates typically exclude one-time items.

Prior year's reported and adjusted net income included a benefit of $14.5 million, or about $0.04 a share, relating to an adjustment of accruals resulting from the favorable resolution of income tax audits, the company added.

The firm clocked net sales of $4.39 billion, up 11.3 percent, compared with $3.95 billion reported a year back, whereas 27 analysts estimated revenues of $4.36 billion for the quarter. Same-store sales rose 5.1 percent, with growth in both customer traffic and average transaction value.

Looking ahead, the company confirmed its adjusted earnings per share view for fiscal 2013 to be around $3.15 - $3.22, still expecting total sales to increase 10 to 11 percent over the 2012 fiscal year, as well as same-store sales to increase 4 to 5 percent. Thirty analysts anticipate annual earnings of $3.21 per share.

In addition, Dollar General plans to utilize a portion of its cash flows in 2013 to buy back common stock under its share repurchase program.