WASHINGTON (dpa-AFX) - Advance Auto Parts Inc.'s (AAP) first-quarter net income climbed to $133.51 million or $1.79 per share from $109.58 million or $1.35 per share last year. On average, 19 analysts polled by Thomson Reuters expected earnings per share of $1.81 for the quarter. Analysts' estimates typically exclude one-time items.
Total sales for the recent quarter went up 3.1% to $1.96 billion, from $1.90 billion during the first quarter of fiscal 2011, reflecting a comparable store sales gain of 2.1% versus a 1.4% comparable store sales gain during the first quarter of fiscal 2011 and the net addition of 82 new stores during the past 12 months. Analysts estimated revenues of $2.00 billion for the quarter.
Mike Norona, executive vice president and finance chief noted, 'Due to our slow start to the second quarter we anticipate our business results will be constrained during our second quarter. As a result, we now anticipate our annual comp store sales will be in the low single digits for 2012 and are maintaining our previously communicated 2012 EPS outlook of $5.55 to $5.75 per share.' Analysts project earnings of $5.97 per share for the full year.
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