Ulta Salon, Cosmetics & Fragrance (ULTA) Shares Soar Following Solid Earnings

Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ: ULTA) gained 6.44 % to $72.90 in the morning hours after the company announced financial results for the third quarter and first nine months ended October 29, 2011, which compares to the same period ended October 30, 2010.

The company reported its third quarter net sales increased 21.8% to $413.1 million from $339.2 million in the same period last year. Comparable store sales (sales for stores open at least 14 months) increased 9.6% compared to an increase of 12.2% in the third quarter of fiscal 2010. Net income increased 88.5% to $26.8 million compared to $14.2 million in the third quarter of fiscal 2010; and income per diluted share increased 82.6% to $0.42 compared to $0.23 in the year ago period.

Looking forward, the company announced that, for the fourth quarter of 2011, it expects net sales in the range of $552 million to $562 million, compared to actual net sales of $473.7 million in the fourth quarter of fiscal 2010. Income per diluted share (EPS) for the fourth quarter of 2011 is estimated to be in the range of $0.62 to $0.64. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $558 million and earnings per share of $0.61 for the fourth quarter of 2011.


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