VANCOUVER, British Columbia (AP) _ Lululemon Athletica Inc. (LULU) on Thursday reported fiscal second-quarter profit of $48.7 million.
On a per-share basis, the Vancouver, British Columbia-based company said it had profit of 36 cents. Earnings, adjusted for non-recurring costs, were 39 cents per share.
The results beat Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The athletic apparel maker posted revenue of $581.1 million in the period, also topping Street forecasts. Thirteen analysts surveyed by Zacks expected $567.8 million.
For the current quarter ending in November, Lululemon expects its per-share earnings to range from 50 cents to 52 cents.
The company said it expects revenue in the range of $605 million to $615 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $601.3 million.
Lululemon expects full-year earnings in the range of $2.35 to $2.42 per share, with revenue ranging from $2.55 billion to $2.6 billion.
Lululemon shares have dropped 11 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $57.55, a drop of 25 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 LULU at https://www.zacks.com/ap/LULU
Keywords: Lululemon, Earnings Report, Priority Earnings