CORTE MADERA, Calif. (AP) — Restoration Hardware Holdings Inc. (RH) on Wednesday reported fiscal first-quarter earnings of $35.7 million.
The Corte Madera, California-based company said it had net income of $1.43 per share. Earnings, adjusted for non-recurring costs, came to $1.85 per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.
The furniture and housewares company posted revenue of $598.4 million in the period. Its adjusted revenue was $598.8 million, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $582.9 million.
Restoration Hardware expects full-year earnings in the range of $8.76 to $9.27 per share, with revenue in the range of $2.64 billion to $2.66 billion.
Restoration Hardware shares have fallen 21% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $94.87, a drop of 39% in the last 12 months.