Footstar Beats Third-Quarter Estimates - TheStreet

Footstar

(FTS) - Get Report

reported third-quarter earnings that beat Wall Street's expectations for the period.

The company reported net income for the latest third quarter of $24.6 million, or $1.21 a share, compared with $18 million, or 83 cents a share, in the same period a year ago.

Excluding a restructuring reversal, income in the latest third quarter would have been $24.1 million, or $1.19 a share. Eight analysts expected the company to earn $1.15 a share for the quarter, according to a

First Call/Thomson Financial

survey.

Sales for the third quarter rose 26% to $592.7 million from $470.3 million a year ago. The company said it is "comfortable" about meeting analysts' earnings expectations of $1.08 a share for the fourth quarter and $3.11 a share for the full year.