Kirkland's Profit Nearly Doubles (KIRK)

Kirkland's Inc. KIRK, a specialty retailer of home decor and gifts, reported reported a first-quarter profit that nearly doubled from last year. The company reported first quarter net income of $6.5 million, or 32 cents a share, from $3.5 million, or 17 cents a share, a year ago. Analysts on average were looking for a profit of 13 cents per share. Revenues rose 12.2% year-over-year to $93.5 million versus the $86.7 million consensus. The company said it sees second-quarter EPS of $0.17-$0.20 versus the $0.16 consensus. The company sees second-quarter revenues of $89-$91 million versus the $92.40 million consensus estimate. Comparable store sales for the first quarter of fiscal 2010 increased 12.6% compared with an increase of 5.2% in the prior-year period. Shares of Kirkland's rose 25 cents, or 1.09%, to $23.28 in early trading Tuesday.