Pier 1 Imports, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended November 26, 2016. For the quarter, the company reported net sales of $475,901,000 against $478,047,000 a year ago. Operating income was $22,253,000 against $19,657,000 a year ago. Income before income taxes was $19,578,000 against $16,840,000 a year ago. Net income was $13,577,000 against $10,919,000 a year ago. Basic and diluted earnings per share were $0.17 against $0.13 a year ago. Third quarter EBITDA was $35.9 million compared to $32.6 million in the third quarter of last year. Adjusted net income was $17.6 million or $0.22 per share.

For the nine months, the company reported net sales of $1,300,094,000 against $1,349,905,000 a year ago. Operating income was $10,106,000 against $41,600,000 a year ago. Income before income taxes was $2,606,000 against $32,857,000 a year ago. Net income was $3,488,000 against $20,959,000 a year ago. Diluted earnings per share were $0.04 against $0.24 a year ago. Net cash provided operating activities was $5,073,000 against $41,864,000 a year ago. Capital expenditures were $39,559,000 against $41,864,000 a year ago. EBITDA totaled $52.1 million, compared to $79.7 million in the year-ago period. Adjusted net income was $7.5 million or $0.09 a year ago.

For the fourth quarter of 2016, the company provided its financial guidance. The company expects comparable sales contracting approximately negative 1% to positive 1%, negative net sales growth of 3% to 1%, earnings per share in the range of $0.26 to $0.30, adjusted earnings per share in the range of $0.28 to $0.32.

For the fiscal 2016, the company provided its financial guidance. The company expects comparable sales contracting approximately negative 2% to flat growth, negative net sales growth of 4% to 2%, earnings per share in the range of $0.30 to $0.34, adjusted earnings per share in the range of $0.37 to $0.41, depreciation of approximately $56 million, CapEx of $48 million.