Conn's (CONN) Sales And Income Plunge

Retailer Conn's Inc CONN released financial results on Thursday morning that beat Wall Street estimates. Conn's Inc reported that its fiscal 2011 1st quarter net income fell to $5.5 million, or 25 cents per share, down from $11.4 million, or 50 cents per share, a year earlier. Revenue fell 17.7% to $197.5 million, down from $239.8 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 20cents per share.