GNC Holdings Q3 Profit Rises, Meets View; Updates FY13 Forecast

(RTTNews) - GNC Holdings, Inc. (GNC), a specialty retailer of health and wellness products, reported Thursday that its third-quarter net income was $73.03 million, compared to $62.23 million last year. Earnings per share were $0.76, higher than $0.60 a year ago.

For the third quarter, consolidated revenue was $675.59 million, an increase of 8.7 percent from last year's $621.61 million.

On average, 12 analysts polled by Thomson Reuters expected earnings of $0.76 per share on revenues of $690.77 million. Analysts' estimates typically exclude special items.

Revenue increased in each of the company's segments.

Same store sales increased approximately 8.2 percent in domestic company-owned stores, excluding a negative impact of 1.5 percent from the sale of fewer Gold Cards. Including this impact, same store sales increased 6.7 percent in domestic company-owned stores. In domestic franchise locations, same store sales increased 5.9 percent.

Looking ahead for fiscal 2013, the company now expects consolidated adjusted earnings per share of approximately $2.85 - $2.89, a 22 percent - 24 percent increase over last year's adjusted earnings of $2.33 per share. This represents an increase over the previously announced outlook for 2013, due to a reduction in the share count.

The company said the earnings forecast is based on achieving a high-single digit increase in domestic company-owned same store sales for the fourth quarter of 2013.

In pre-market activity, GNC shares are currently trading at $55.50, down $1.69 or 2.96 percent.