Results for Five Below's (NASDAQ:FIVE) Q1 were released this week, showing net sales were sharply higher at $96 million, compared to the $72 million the firm posted in the same period the previous year, a 33% increase.

Net income veered into the black over that time frame, landing at $1.6 million ($0.03 per diluted share) from Q1 2012's loss of $1.2 million ($0.32). For this most recent quarter, analysts had been expecting revenue of just over $94 million and EPS of $0.04.

Five Below also revised upward its quarterly and annual guidance. For its current Q2, net sales are anticipated to be $112 million-$114 million, with adjusted EPS coming in at $0.08-$0.09. Those figures for the entirety of fiscal 2013 are now expected to be $524 million-$529 million and $0.65-$0.68, respectively.

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