Express Inc Issues Q1, FY 2012 Earnings Guidance In Line With Analysts' Estimates; Comments On Q1, FY 2012 Comparable Sales Guidance

Express Inc announced that for first quarter of 2012, it expects comparable sales to increase mid single digits compared to an increase of 8% in the first quarter of 2011. Net income is expected in the range of $41 million to $44 million, or $0.46 to $0.49 per diluted share (EPS) on 89.2 million weighted average shares outstanding. For fiscal 2012, it expects comparable sales to increase mid single digits for the fifty-three week period in 2012 compared to an increase of 6% for the fifty-two week period in 2011. Earnings are expected in the range of $1.84 to $1.97 per diluted share on 89.5 million shares weighted average shares outstanding. According to I/B/E/S estimates, analysts were expecting the Company to report net income of $42 million and EPS of $0.47 for first quarter of 2012; net income of $170 million and EPS of $1.91 for fiscal 2012.