Lululemon beats Street 3Q forecasts

VANCOUVER, British Columbia (AP) _ Lululemon Athletica Inc. (LULU) on Wednesday reported fiscal third-quarter earnings of $68.3 million.

On a per-share basis, the Vancouver, British Columbia-based company said it had net income of 50 cents. Earnings, adjusted for non-recurring gains, came to 47 cents per share.

The results topped Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The athletic apparel maker posted revenue of $544.4 million in the period, which also topped Street forecasts. Thirteen analysts surveyed by Zacks expected $542.7 million.

For the current quarter ending in January, Lululemon said it expects revenue in the range of $765 million to $785 million. Analysts surveyed by Zacks had expected revenue of $792 million.

The company expects full-year earnings in the range of $2.11 to $2.16 per share, with revenue ranging from $2.32 billion to $2.34 billion.

Lululemon shares have increased 14 per cent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $59.84, an increase of 16 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LULU at https://www.zacks.com/ap/LULU

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Keywords: Lululemon, Earnings Report, Priority Earnings