March 20, 2013
Pacific Sunwear of California (NASDAQ: PSUN ) trimmed its quarterly loss in its Q4 and 2012 report, but guidance came in worse than expected. For the quarter, net sales from continuing operations were $228 million, up modestly from the $219 million in the same period the previous year. Over that span, the company managed to narrow its net loss. The figure came in at $11.4 million ($0.17 per diluted share), compared with Q4 2011's shortfall of $13 million ($0.19).
For the full year, the top line was $803 million, an improvement over 2011's figure of $777 million. Annual net loss also narrowed, to $32.4 million ($0.47 per diluted share) against the previous year's $47.4 million ($0.71).
The apparel retailer also provided several pieces of forward guidance. The company believes it will post revenue of $160 million to $167 million and a per-share loss of $0.17 to $0.24. Both ranges are worse than analyst projections of $168 million and $0.13, respectively.