hhgregg, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended March 31, 2013. For the quarter, the company reported net sales of $597.632 million compared to $613.788 million a year ago. Income from operations was $16.9 million compared to $62.815 million a year ago. Income before income taxes was $16.249 million compared to $62.139 million a year ago. Net income was $9.920 million or $0.31 per diluted share compared to $53.630 million or $1.45 per diluted share a year ago. Net income, as adjusted was $9.920 million or $0.31 per dilute share compared to $14.478 million or $0.39 per dilute share a year ago. For the year, the company reported net sales of $2,474.759 million compared to $2,493.392 million a year ago. Income from operations was $43.759 million compared to $109.800 million a year ago. Income before income taxes was $41.424 million compared to $107.165 million a year ago. Net income was $25.369 million or $0.74 per diluted share compared to $81.373 million or $2.14 per diluted share a year ago. Net cash provided by operating activities was $66.053 million compared to $117.037 million a year ago. Purchases of property and equipment were $54.020 million compared to $83.054 million a year ago. Net income, as adjusted was $25.671 million compared to $42.221 million a year ago. Net income, as adjusted was $9.920 million or $0.74 per dilute share compared to $14.478 million or $1.11 per dilute share a year ago. The decreases in net sales for the three and 12 month periods ended March 31, 2013 were primarily attributable to decreases in comparable store sales of 9.8% and 8.7%, respectively, partially offset by the net addition of 20 stores during the past 12 months. For the fiscal year 2014, the company expects net income per diluted share in the range of $0.75 to $0.90. The company expects net sales increase of 1.0% to 3.5%, comparable store sales of negative 2.5% to flat, capital expenditures of $28 million to $32 million and an effective income tax rate of approximately 39.5%. The company announced that for the fiscal year 2014, the company expects to open 5 new stores.

hhgregg, Inc., Q4 2013 Earnings Call, May 20, 2013

hhgregg, Inc. announced that it will open a new store at the Dayton Mall in Ohio on May 16, 2013. The new store, located at 2700 Miamisburg Centerville Road in Dayton, will replace h.h.gregg's older location at 240 Springboro Pike State Road 741 in West Carrollton. The new 23,000 square foot Dayton Mall store will provide local residents with a modern, updated shopping experience, and the same knowledgeable sales staff they trust to help them make the best purchase decisions.