Ulta Beauty Q2 Profit Tops Estimate; Sees Q3 Earnings Below Consensus

(RTTNews) - Ulta Salon, Cosmetics & Fragrance, Inc. (ULTA) reported net income for the second quarter of $44.9 million or $0.70 per share, compared to $35.0 million or $0.54 per share for the year-ago quarter.

Net sales for the second quarter rose 24.8% to $601.0 million from $481.7 million a year ago. Same-store sales for the quarter increased 8.4%.

Analysts polled by Thomson Reuters expected the company to earn $0.67 per share on revenue of $588.37 million for the second quarter.

Looking forward to the third quarter, the company currently expects net sales in the range of $613 million to $623 million and earnings of $0.71 to $0.74 per share. Analysts currently expect the company to earn $0.76 per share on revenue of $618.70 million for the third quarter.

For fiscal year 2013, the company confirmed its previously announced fiscal 2013 earnings guidance, which calls for earnings per share growth at the low end of the company's long term target of 25% - 30%, including the impact of about $0.13 of income per diluted share in incremental investments.