Evine Live (EVLV) Misses Q1 EPS by 1c, Beats on Revenues

Evine Live (NASDAQ: EVLV) reported Q1 EPS of ($0.05), $0.01 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $156 million versus the consensus estimate of $153.59 million.

Second Quarter and Full Year 2017 Outlook

The following details relate to our expected performance for the second quarter and full-year of fiscal 2017:

For Q2: We expect revenues to decline 3% to 5%, which reflects management’s continued rebalancing of the Company’s merchandising mix to reduce low margin consumer electronics that began back in Q2 of 2016. From a profitability perspective, management expects the Company to post net income and EPS that is in line with prior year’s Q2 results.

For Full Year: We continue to expect slightly positive sales for fiscal 2017 and adjusted EBITDA to be in the $18 to $22 million range, which would be growth of 11% to 36% year over year. These results include a 53rd week in fiscal 2017.

Fiscal Year 2017 First Quarter Highlights

• Net sales were $156 million, a 6.3% decrease year-over-year.
• Gross profit as a percentage of sales decreased 80 basis points to 36.0% year-over-year.
• Net loss was $3.2 million, a 35% improvement year-over-year.
• Adjusted EBITDA was $3.1 million, an 11% decrease year-over-year.
• EPS was ($0.05), a 44% improvement year-over-year.
• Total cash, including restricted cash, was $26 million.

For earnings history and earnings-related data on Evine Live (EVLV) click here.

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