Video game seller
said first-quarter revenue rose 36.2%, driven in part by strong demand for hardware, particularly
Revenue totaled $507.1 million for the quarter ended April 30, up from $372.4 million in the comparable period last year. Same-store sales rose 14.5%.
Excluding costs related to the pending merger with
, the company had a profit of $3.7 million, or 15 cents a share, which was ahead of previously announced expectations. Including items, the company earned 11 cents. A year ago, Electronics Boutique earned $3 million, or 12 cents a share.
The West Chester, Pa., company reiterated its previous fiscal 2006 outlook for total revenue to increase 15% to 20% and earnings of $2.34 to $2.44 a share. Electronics Boutique is merging with GameStop in a deal that will create a video game retailer with more than 4,000 stores.
Analysts polled by Thomson First Call were expecting earnings of 14 cents a share for the quarter. The consensus estimate is a profit of $2.40 a share for the year.
Electronics Boutique said it is optimistic about the long-term prospects of the company and its industry. "In particular, we are looking forward to the launch of
Xbox 360 this holiday season, which will mark the beginning of an exciting new cycle and phase of growth in the video game market," the company said.
Shares of Electronics Boutique were down 2 cents to $59.43 in after-hours trading.