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Regis Swings to Profit

The hair company beats by a penny.

Hair salon operator


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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


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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 and IRIS.