Ulta Beauty (ULTA) reported earnings on Thur 11/29/12

Ulta Salon, Cosmetics & Fragrance Inc. said Thursday that net income rose 43% in its fiscal third quarter as costs decreased even though the company opened dozens of new stores.
Shares jumped 5 percent in after-hours trading.

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The company said its profit margins improved and revenue grew 22 percent in the quarter ended Oct. 27. Ulta also reported strong growth in sales at its older stores — an important measurement of retailer performance. It also raised its annual earnings guidance.

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Net income rose to $38.2 million, or 59 cents per share, from $26.8 million, or 42 cents per share, a year ago. Revenue increased to $505.6 million from $413.1 million.

Analysts forecast profit of 56 cents per share and $503.9 million in revenue, according to FactSet.
Sales at stores open at least 14 months rose 8.4 percent, which was better than analysts expected. That measurement is a key reading of retailer health, because it excludes results from stores that recently opened or closed.

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During the third quarter Ulta opened 49 stores, relocated one, closed one, and remodeled 11 to give the company a total of 537 stores.

Ulta expects to earn 96 to 98 cents per share in the fiscal fourth quarter, on revenue of $742 million to $754 million. Analysts estimate net income of 96 cents per share and $735.5 million in revenue for the quarter.
For the full fiscal year the company now projects net income of $2.64 to $2.66 per share, up from a previous estimate of $2.58 to $2.60 per share. Analysts expect $2.61 per share on average.
Ulta shares rose $4.65, or 5 percent, to $97.80 in after-hours trading