UPDATE 1-Conn’s Q1 beats Street view

* Q1 EPS $0.25 vs est $0.20

* Q1 total revenue $197.5 mln vs est. $191.3 mln

May 27 (BestGrowthStock) – Conn’s Inc (CONN.O: ) reported
first-quarter profit (Read more your timing to make a profit.) that sailed past Wall Street’s
expectations helped by an improvement in margins as the
electronics and home appliances retailer slashed costs and
sales also beat expectations.

For the quarter ended April 30, the company reported a
profit of $5.5 million, or 25 cents a share, compared with
$11.4 million, or 50 cents, last year.

Analysts on average expected the company to earn 20 cents
in the quarter, according to Thomson Reuters I/B/E/S.

Total revenues slumped nearly 18 percent to $197.5 million,
but surpassed expectations of $191.3 million. Same-store sales
fell 19.7 percent.

Retail gross margin improved to 27.9 percent from 25
percent, last year. Total expenses fell 15 percent.

The company, which provides in-house credit to shoppers,
said its annualized charge-off rate was 4.6 percent in the
quarter, up from 3 percent last year.

The 60 day-plus delinquency rate rose to 8.6 percent in the
quarter from 6.9 percent last year, but it fell sequentially
from 10 percent in the fourth-quarter.

Shares of the company were up 1 percent at $7.50 in trading
before the bell. They closed at $7.41 Wednesday on Nasdaq.

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(Reporting by Abhishek Takle in Bangalore; Editing by Vyas
Mohan)

UPDATE 1-Conn’s Q1 beats Street view