OAKLAND, Calif. (AP) _ E.l.f. Beauty Inc. (ELF) on Wednesday reported third-quarter net income of $5.9 million, after reporting a loss in the same period a year earlier.
The Oakland, California-based company said it had net income of 12 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were 17 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The cosmetics company posted revenue of $71.9 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $68.4 million.
E.l.f. Beauty expects full-year earnings to be 55 cents per share, with revenue expected to be $270 million.
E.l.f. Beauty shares have dropped 34 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.20, a fall of 28 percent in the last 12 months.