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OMAHA, Neb. (AP) — Gordmans Stores' fiscal second-quarter net income rose 21 percent as sales improved, but the clothing and home decor company lowered its full-year revenue guidance.
The Omaha, Neb. company reported Friday that it earned $3.5 million, or 18 cents per share, for the period ended July 28. That's up from $2.9 million, or 15 cents per share, a year earlier.
The performance met the expectations of analysts surveyed by FactSet.
Revenue increased to $128.2 million from $117 million, rising 10 percent. This missed Wall Street's $130.9 million estimate.
Revenue at stores open at least a year, a key gauge of a retailer's health, edged up 0.1 percent. This metric excludes results from stores recently opened or closed.
For fiscal 2012, Gordmans Stores Inc. now anticipates revenue between $624 million and $628 million, down from a prior guidance of $629 million to $634 million. The company says it expects revenue at stores open at least a year to rise by a low single-digit percentage rate.
The retailer maintained its forecast for earnings of $1.46 to $1.51 per share.
Analysts expect earnings of $1.51 per share on revenue of $632.4 million.
Gordmans foresees third-quarter earnings of 24 cents to 26 cents per share on revenue in a range of $145 million to $147 million. For the fourth quarter, it expects earnings of 62 cents to 65 cents per share on revenue between $217 million and $219 million.
Wall Street predicts third-quarter earnings of 29 cents per share on revenue of $150.9 million and fourth-quarter earnings of 62 cents per share on revenue of $216.7 million.
Gordmans runs 81 stores in 18 states.