UPDATE 1-Monro Muffler raises Q4 EPS outlook; to buy tire chain

* Sees Q4 shr $0.23-$0.25

* To buy Pittsburgh-based tire chain

March 23 (BestGrowthStock) – Auto-repair chains operator Monro
Muffler Brake Inc (MNRO.O: ) raised its earnings outlook for the
fourth quarter and said it agreed to acquire Import Export Tire
Co, a Pittsburgh-based independent tire chain.

The company now expects fourth-quarter earnings to range
between 23 cents a share and 25 cents a share, and comparable
store sales increase of about 7.5 percent.

It had previously forecast earning of 20 cents to 23 cents
a share.

Analysts on average were expecting earnings of 23 cents a
share, according to Thomson Reuters I/B/E/S.

Monro Muffler expects Import Export Tire’s stores to add to
its earnings in the first 12 months after the acquisition,
which is expected to close at the end of March, but said the
outlook for fiscal 2010 did not include any impact from the
deal.

Shares of the Rochester, New York-based company closed at
$36.65 Monday on Nasdaq.

Stock Market Research

(Reporting by Amulya Nagaraj in Bangalore; Editing by Don
Sebastian)

UPDATE 1-Monro Muffler raises Q4 EPS outlook; to buy tire chain