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Wet Seal Inc Raises Q1 2013 EPS Guidance


Thursday, 9 May 2013 07:00am EDT 

Wet Seal Inc announced that based on the strength of sales and margins, the Company raised expectations for the first quarter of 2013. The Company now expects earnings per diluted share (EPS) of $0.00 to $0.01 before non-cash asset impairments and a $3.5 million benefit to adjust its loss contingency accrual, which includes the effect of the settlement. This compares to prior guidance of a net loss per diluted share in the range of $0.03 to $0.06. The Company's updated guidance includes an estimated $1.8 million, or $0.02 per diluted share, of previously announced incremental legal defense costs versus the first quarter of fiscal 2012 for legal matters that arose in prior years. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $143 million and EPS of $(0.04) for first quarter of 2013. 

Company Quote

0.631
0.0010 +0.16%
17 Sep 2014