Sprouts Farmers Market Q3 Profit Surges; Lifts FY13 Adj. EPS Outlook

(RTTNews) - Sprouts Farmers Market, Inc. (SFM) Thursday reported third-quarter net earnings of $11.5 million, or $0.08 per share, compared to $1.3 million, or $0.01 per share, in the comparable quarter last year. Adjusted net income for the latest third quarter was $19.5 million, or $0.13 per share.

Second-quarter sales increased to $633.61 million from $510.05 million last year.

On average, nine analysts polled by Thomson Reuters expected the company to earn $0.10 per share on revenues of $620.16 million. Analysts' estimates typically exclude special items.

For the full year, the company raised its adjusted earnings to a range of $0.45 per share to $0.46 per share from its prior range of $0.41 to $0.43 per share. Analysts now expect earnings of $0.43 per share for the full year.