Conn's Reports Lower Q3 Net Income
By Staff -- TWICE, 12/4/2006
Beaumont, Texas — Conn's, the electronics/appliance chain based here, reported lower net income and same store sales for the third quarter ended Oct. 31.
Net income for the third fiscal quarter decreased 19.2 percent to $7.2 million compared with $8.9 million for the restated third quarter of last year.
Total revenues for the quarter increased 0.6 percent to $173.7 million compared with $172.6 million for the same quarter last year. This increase in revenue included increases in "finance charges and other" of $1.8 million, or 9.1 percent, and a decrease in net sales of $700,000, or 0.4 percent.
Same store sales (revenues earned in stores operated for the entirety of both periods) decreased 3.7 percent for the fiscal third quarter.
For more details on Conn's Q3, see report at www.TWICE.com.
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