(RTTNews) - Big 5 Sporting Goods Corp.
(BGFV) on Thursday reported lower net income of $6.2 million, or $0.28 per share for the fourth quarter of fiscal 2007, compared $9.6 million, or $0.42 per share a year ago. On average, twelve analysts surveyed by First Call/Thomson Financial expected the company to earn $0.26 per share for the quarter.
Fourth quarter, net sales declined to $232.1 million from $234.5 million in the prior year period. Same store sales declined 4.7% for the fourth quarter. Seventeen analysts estimated revenues of $232.11 million for the period.
For fiscal 2007, net income was $28.1 million, or $1.25 per share, compared to net income of $30.8 million, or $1.35 per share last year. Full year net sales increased $21.5 million, or 2.5%, to $898.3 million from $876.8 million in the previous year. Same store sales decreased 1.0% in the fiscal 2007 full year versus the prior year.
The company's Board of Directors has declared a quarterly cash dividend of $0.09 per share of outstanding common stock, which will be paid on March 14, 2008 to stockholders of record as of February 29, 2008.
For the fiscal 2008 first quarter, the company expects a decline in same store sales in the low to mid-single digit range and earnings per diluted share in the range of $0.17 to $0.23. For fiscal 2008, a decline in same store sales in the low to mid-single digit range and earnings per diluted share in the range of $0.75 to $1.00 are estimated. Analysts expect earnings of $0.25 per share for the first quarter and $1.24 per share for the full year.
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