Nutrisystem Tops Analyst View; Shares Up
NEW YORK (
) -- Shares of
Nutrisystem
(NTRI) - Get Report
surged in extended trading after the Horsham, Pa.-based provider of weight management products topped Wall Street's expectations for its third-quarter profit by 27%.
The company reported earnings of $9.2 million, or 32 cents a share, for the three months ended Sept. 30, up from a profit of $8.5 million, or 27 cents a share, in the same period a year earlier, and 7 cents better than the average estimate of analysts polled by
Thomson Reuters
for earnings of 25 cents a share.
Revenue came in at $121.2 million for the quarter, down 4% year-over-year and slightly below the consensus view of $123.8 million.
The stock was last quoted at $20.15, up 7.2%, on volume of nearly 171,000, according to
Nasdaq.com
. Based on a regular session close of $18.79, the shares were down roughly 39% year-to-date, but they had seen a plus-20% bounce since scraping a 52-week low of $15.26 on March 4.
"Year to date, we have used our visibility into customer trends to inform us on managing costs to drive profitability," said David Clark, the company's chief financial officer, in a statement. "Based on the improved EPS results experienced year to date and outlook for the fourth quarter, we are now raising projected full year earnings guidance to a range of $1.12 and $1.16 per share."
Wall Street's current consensus estimate is for a profit of $1.08 a share for fiscal 2010.
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Written by Michael Baron in New York.
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