Tile Shop beats Street 1Q forecasts

PLYMOUTH, Minn. (AP) _ Tile Shop Holdings Inc. (TTS) on Tuesday reported first-quarter net income of $8 million.

The Plymouth, Minnesota-based company said it had profit of 15 cents per share. Earnings, adjusted for non-recurring costs, came to 16 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The stone tile retailer posted revenue of $92.1 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $89.7 million.

Tile Shop expects full-year earnings in the range of 50 cents to 57 cents per share, with revenue in the range of $350 million to $370 million.

Tile Shop shares have declined nearly 1 percent since the beginning of the year. The stock has climbed 20 percent in the last 12 months.

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

Keywords: Tile Shop Holdings, Earnings Report