(LULU) Lululemon Athletica – Income From Operations Jumped 60%
Lululemon Athletica (LULU) topped Wall Street’s expectations for the sixth time in a row on strong top-line growth as well as improving margins.
Company Description
Lululemon Athletica is a yoga clothing and equipment company based in Vancouver.
Revenues Up 30%
On Dec 9 lululemon reported quarterly results that included revenues of $113 million, a 30% increase since last year. The company also saw a solid 10% increase in same-store sales.
Income from operations jumped 60%, to $21 million, on higher revenues as well as better margins. Earnings per shares came out to 20 cents, topping the Zacks Consensus Estimate by a penny. The narrow beat was lululemon’s 6th consecutive earnings surprise.
Analysts React
Following the release the Zacks Consensus Estimate for fiscal 2010 and 2011 rose. The average estimate for 2010 is up 3 cents to 71 cents. Next year’s estimates rose 5 cents to 94 cents.
If these levels are met, lululemon’s year over year growth rates will be 18% and 33%, respectively.
The Chart
Shares off LULU have been selling off lately, but are just above a level of support. The stock could be turning around, making a great entry point.
Bill Wilton is the Growth Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Growth Trader service
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