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Vera Bradley beats 3Q profit forecasts

ROANOKE, Ind. (AP) _ Vera Bradley Inc. (VRA) on Wednesday reported fiscal third-quarter earnings of $359,000.

The Roanoke, Indiana-based company said it had profit of 1 cent per share. Earnings, adjusted for one-time gains and costs, came to 23 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The handbag and accessories company posted revenue of $114.1 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $115.3 million.

For the current quarter ending in January, Vera Bradley said it expects revenue in the range of $127 million to $132 million.

The company expects full-year earnings to be 57 cents to 60 cents per share, with revenue ranging from $450 million to $455 million.

Vera Bradley shares have dropped 26 percent since the beginning of the year. The stock has decreased 41 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 VRA at https://www.zacks.com/ap/VRA