Conn's 1Q Profit Rises 8.7 Pct

BEAUMONT, Texas (AP) — The retailer Conn's Inc. said Thursday that its first-quarter profit climbed 8.7 percent, thanks to stronger sales of its electronics and mattresses.

The company also reaffirmed its full-year guidance.

For the three months ended April 30, the retailer earned $11.5 million, or 51 cents per share, up from $10.6 million, or 47 cents per share, a year ago.

Excluding one-time items, the company earned 47 cents per share.

Revenue climbed 5.8 percent to $231.3 million from $218.6 million a year ago as sales of electronics, furniture and mattresses helped offset weak sales in the company's lawn and garden business.

Conn's reaffirmed its full-year guidance, saying it expects to earn $1.75 to $1.85 per share excluding fair value adjustments. Thomson Reuters said the average estimate of four analysts it surveyed was for earnings of $1.71 a share. The estimates typically exclude one-time items.

Its shares rose $1.55, or 14.7 percent, to $12.13 in morning trading.