Vera Bradley Beats 1Q Profit Forecasts

ROANOKE, United States — Vera Bradley Inc.on Wednesday reported fiscal first-quarter net income of $2.4 million, after reporting a loss in the same period a year earlier.

The Roanoke, Indiana-based company said it had profit of 6 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The handbag and accessories company posted revenue of $105.2 million in the period, which fell short of street forecasts. Five analysts surveyed by Zacks expected $106.8 million.

For the current quarter ending in August, Vera Bradley said it expects revenue in the range of $118 million to $123 million. Analysts surveyed by Zacks had expected revenue of $122.6 million.

The company expects full-year earnings to be 90 cents to 98 cents per share, with revenue ranging from $510 million to $520 million.

Vera Bradley shares have declined almost 3 percent since the beginning of the year. The stock has climbed 10 percent in the last 12 months.