99 Cents Only Stores Beats on Top and Bottom Lines (NDN)

99 Cents Only Stores NDN reports Q1 earnings of $0.24 versus estimates of $0.19. 99 Cents Only Stores reports Q1 revenues of $346.5 million versus estimates of $249.37 million. Retail sales for the Company's consolidated operations, including Texas, increased by 4.6% to $336.6 million and same-store sales increased 2.7%. Eric Schiffer, CEO of 99c Only Stores(R), stated, "We are pleased with our financial results for the first quarter of fiscal 2011. Our long-term operational improvement initiatives have continued to exceed our expectations, resulting in earnings per share of $0.24 for the first quarter of fiscal 2011. Continued improvement in all areas of our cost structure has enabled us to achieve a pre-tax profit margin of 7.8% for the quarter. These improvements are significant and were broad-based with increases in our operating income versus last year in all regions, including Texas.” Shares of NDN are lower in the after-hours by 0.06%