- Consolidated revenues increased 50.6% over last year to $310.9 million;
- Retail gross margin expanded 460 basis points from the same period last year to 40.1%,
- Adjusted retail segment operating income rose 163.3% over the prior-year quarter to $34.1 million;
- Credit segment operating income was $10.4 million, a 9.8% decrease from the prior-year quarter;
- Credit segment provision for bad debts on an annualized basis was 10.1% of the average outstanding portfolio balance this quarter;
- Diluted earnings per share of $0.66 on a reported basis, versus $0.35 per share last year; and
- Fiscal 2014 earnings guidance raised to $2.75 to $2.80 per diluted share on an adjusted basis.
Conn’s, Inc. (NASDAQ:CONN), a specialty retailer of home appliances, furniture, mattresses, consumer electronics and provider of consumer credit, today announced record financial results for the quarter ended October 31, 2013. Significant items for the third quarter of fiscal 2014 include: