HSN Inc. Earnings Cheat Sheet: Beats Forecasts

HSN Inc. (NASDAQ:HSNI) reported net income above Wall Street’s expectations for the first quarter. HSN is an interactive multi-channel retailer offering retail experiences on TV, online, in catalogs and in retail and outlet stores.

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HSN Earnings Cheat Sheet for the First Quarter

Results: Net income for HSN Inc. rose to $26.2 million (44 cents per share) vs. $20.3 million (34 cents per share) in the same quarter a year earlier. This marks a rise of 29% from the year-earlier quarter.

Revenue: Rose 5.2% to $747.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: HSN Inc. reported adjusted net income of 50 cents per share. By that measure, the company beat the mean estimate of 37 cents per share. Analysts were expecting revenue of $747.1 million.

Quoting Management: “HSNi had a strong first quarter both in terms of financial performance and in delivering on our strategies around customer growth and digital expansion,” said Mindy Grossman, CEO of HSN, Inc. “We also continued our efforts to improve our capital structure and drive shareholder value. We executed on our share repurchase program, announced our next quarterly dividend and closed our new credit facility, providing us with additional financial flexibility.”

Key Stats:

The company has now seen its net income rise for three quarters in a row. In the fourth quarter of the last fiscal year, net income rose 12.7% and in the third quarter of the last fiscal year, the figure rose 63.4%.

The company topped expectations last quarter after falling short of forecasts in the fourth quarter of the last fiscal year with net income of 80 cents versus a mean estimate of net income of 81 cents per share.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the second quarter is 59 cents per share, down from 63 cents ninety days ago. At $2.37 per share, the average estimate for the fiscal year has fallen from $2.47 ninety days ago.

Competitors to Watch: ValueVision Media, Inc., Liberty Media Corp, eBay Inc., Gaiam, Inc., Overstock.com, Inc., The Parent Company, Amazon.com, Inc., Hot Topic, Inc., BIDZ.com, Inc., and Stamps.com Inc.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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