Regis Swings to Profit

The hair company beats by a penny.

Author:: TSC and IRIS Staff
Publish date:: Apr 26, 2006 11:51 AM EDT

Hair salon operator

Regis

swung to profit in its third quarter.

The company earned $18.6 million, or 40 cents a share, in the quarter, compared with a loss of $16.6 million, or 37 cents a share, a year ago. The current quarter earnings included transaction charges of 8 cents a share related to to the terminated merger with

Alberto-Culver's

(ACV) - Get Report

Sally Beauty business unit. Analysts polled by Thomson First Call were expecting earnings of 47 cents a share in the most recent quarter.

Third-quarter revenue rose 8.4% to $604 million, against analysts' expectation of $604.6 million. Same-store sales, or sales at stores open atleast a year, decreased 0.4%.

Regis expects to post fourth quarter earnings of $1.12 a share to $1.16 a share, helped along by 54 cents a share in termination fee gains from the Sally deal, on revenue of $640 million to $645 million.

This story was created through a joint venture between TheStreet.com and IRIS.