Hibbett Sports Inc. Q1 Income Falls 25%

(RTTNews) - Hibbett Sports Inc. (HIBB) released a profit for first quarter that dropped from last year.

The company said its profit fell to $20.91 million, or $0.97 per share. This was down from $27.91 million, or $1.22 per share, in last year's first quarter.

Analysts had expected the company to earn $0.96 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 2.3% to $275.69 million. This was down from $282.09 million last year.

Hibbett Sports Inc. earnings at a glance:

-Earnings (Q1): $20.91 Mln. vs. $27.91 Mln. last year. -Earnings Decline (Y-o-Y): -25.1% -EPS (Q1): $0.97 vs. $1.22 last year. -EPS Decline (Y-o-Y): -20.5% -Analysts Estimate: $0.96 -Revenue (Q1): $275.69 Mln vs. $282.09 Mln last year. -Revenue Change (Y-o-Y): -2.3%

-Guidance: Full year EPS guidance: $2.35 - $2.55