UPDATE 1-AutoZone Q2 profit beats estimates

martes 3 de marzo de 2009 13:42 CET
 

* Q2 EPS $2.03 vs estimates of $1.85/shr

* Q2 sales up 8 pct

* Shares up 5 pct on low volumes

March 3 (Reuters) - AutoZone Inc (AZO.N: Cotización), the largest U.S. auto parts retailer, reported better-than-expected quarterly profit, helped by higher sales volumes and lower promotion costs. For the second quarter ended Feb. 14, net income was $115.9 million, or $2.03 per share, compared with $106.7 million, or $1.67 per share, a year earlier. Net sales rose 8 percent to $1.45 billion.

Analysts on average were expecting earnings of $1.85 per share, before special items, on revenue of $1.38 billion, according to Reuters Estimates.

Shares of the company, which opened 20 new stores in the United States, were up 5 percent at $147 in trading before the bell. They closed at $140.03 Monday on the New York Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Anil D'Silva)