Conn’s Q4 Net Income Up

Conn’s, a specialty retailer of home appliances, consumer electronics, computers, lawn and garden products, furniture and mattresses, has reported net income of $13.1 million for the fourth quarter of fiscal 2008, an increase of 3.1%, compared with $12.7 million for the fourth quarter of fiscal 2007.

Diluted earnings per share increased 9.6% to $0.57, compared with $0.52 for the fourth quarter of 2007. Total revenues for the quarter ended January 31, 2008 increased 6.3% to $225.9 million, compared with $212.6 million for the quarter ended January 31, 2007. Same store sales increased 1.9% for the fourth quarter of fiscal 2008.

Net income for the year ended January 31, 2008 declined 1.5% to $39.7 million, compared with $40.3 million in 2007. Diluted earnings per share for the year ended January 31, 2008 were $1.68, compared with $1.66 in 2007.

Total revenues for the year ended January 31, 2008 increased 8.3% to $824.1 million, compared with $760.6 million for the year ended January 31, 2007. Same store sales increased 3.2% for fiscal 2008.

Thomas Frank, Sr, chairman and CEO, said: “It is very satisfying to deliver earnings in the middle of the range we set at the beginning of the year, excluding the fair value changes, especially considering the challenging conditions in the retail marketplace we experienced this year.”