GameStop Reports Third Quarter EPS of $.36

GameStop Corp. GME today reported record sales and earnings for the third fiscal quarter ended October 30, 2010. Total sales for the third quarter increased 3.5% to $1.90 billion, in comparison to $1.83 billion in the prior year quarter. Net earnings for the third quarter increased 4.8% to $54.7 million, including $6.0 million of debt retirement costs ($3.8 million net of tax benefits), as compared to net earnings of $52.2 million, including $2.5 million of debt retirement costs ($1.6 million net of tax benefits), in the prior year quarter. Diluted earnings per share increased 16.1% to $0.36, including $0.02 of debt retirement costs, as compared to $0.31, including $0.01 of debt retirement costs, in the prior year quarter. Excluding debt retirement costs, GameStop's diluted earnings per share were $0.38, achieving the high-end of company guidance.