Key Developments For Conn's, Inc.
Conn's, Inc. (CONN.O) (Nasdaq)
Conn's, Inc. Reaffirms Q4 2010 Earnings Guidance
Conn's, Inc. announced that it has reaffirmed its fourth quarter of 2010 guidance. The Company still expects to be solidly profitable during the period. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.37 for fourth quarter of 2010.
Conn's, Inc. Withdraws Previous Earning Guidance; Temporarily Discontinues Providing Earning Guidance; Issues Q3 2010 Earnings Guidance Below Analysts' Estimates; Comments On Q4 2010 Earnings Guidance
Conn's, Inc. announced that it is withdrawing its previously provided earnings guidance and has decided to temporarily discontinue its practice of providing earnings guidance. The Company believes it may report a net loss for the quarter ended October 31, 2009, before considering the impacts of any potential fair value or goodwill adjustments, though it expects to be solidly profitable during the fourth quarter of 2010, excluding potential fair value and goodwill adjustments. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.02 for third quarter of 2010 and $0.47 for fourth quarter of 2010.
Conn's, Inc. Lowers FY 2010 EPS Outlook
Conn's, Inc. revised its fiscal 2010 outlook and expects earnings per diluted share (EPS), excluding fair value adjustments of $1.40-$1.60. According to Reuters Estimates, analysts were expecting the Company to report EPS of $1.61 for the same period.
Conn's, Inc. Reaffirms FY 2010 EPS Guidance
Conn's, Inc. reaffirmed its fiscal 2010 earnings per diluted share (EPS) guidance to a range of $1.75 to $1.85, excluding the impact of potential fair value adjustments. The guidance includes an increased provision for bad debts, due to the increase in the balance of customer receivables retained on the Company's balance sheet, to provide the required reserve for future estimated losses. According to Reuters Estimates, analysts were expecting the Company to report EPS of $1.75 for fiscal 2010.
Conn's, Inc. Announces Completion of CEO Transition and Appointment of Chairman of Board
Conn's, Inc. announced that as previously announced, Timothy L. Frank became the Company`s Chief Executive Officer (CEO) effective June 2, 2009. Additionally, as part of the Company`s succession planning, William C. Nylin, Jr., has named as the Chairman of the Board effective June 2, 2009. Thomas J. Frank, Sr., retired effective June 2, 2009, and will remain on the Company`s Board of Directors and has entered into a consulting contract with the Company.
