Ollie's Bargain Outlet tops Street 3Q forecasts

HARRISBURG, Pa. (AP) _ Ollie's Bargain Outlet Holdings Inc. (OLLI) on Wednesday reported fiscal third-quarter net income of $18.9 million.

The Harrisburg, Pennsylvania-based company said it had profit of 29 cents per share. Earnings, adjusted for non-recurring gains, came to 22 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The retailer posted revenue of $238.1 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $232.4 million.

Ollie's Bargain Outlet expects full-year earnings in the range of $1.21 to $1.22 per share, with revenue in the range of $1.06 billion to $1.07 billion.

Ollie's Bargain Outlet shares have risen 79 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $51, an increase of 62 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OLLI at https://www.zacks.com/ap/OLLI