HARRISBURG, Pa. (AP) — Ollie's Bargain Outlet Holdings Inc. (OLLI) on Tuesday reported fiscal third-quarter net income of $24.8 million.
The Harrisburg, Pennsylvania-based company said it had profit of 38 cents per share. Earnings, adjusted for non-recurring gains, were 32 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The retailer posted revenue of $283.6 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $280.6 million.
Ollie's Bargain Outlet expects full-year earnings in the range of $1.74 to $1.77 per share, with revenue expected to be $1.23 billion.
Ollie's Bargain Outlet shares have increased 63 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $86.83, a climb of 75 percent in the last 12 months.