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Natural Grocers raises FY'18 outlook on $4.3M tax gains

Natural Grocers by Vitamin Cottage Inc. on Feb. 1 raised its earnings outlook for the fiscal year ending Sep. 30, 2018, as it gained $4.3 million during the first quarter from deferred income tax assets and liabilities related to the U.S. corporate tax reform.

The natural and organic food retailer now expects diluted EPS for the full fiscal year to be in the range of 40 cents to 50 cents, higher than the 21 cents to 31 cents it projected Nov. 16, 2017, when it released fourth-quarter and full-year fiscal 2017 results. It kept its CapEx outlook intact at $25 million to $30 million for the fiscal year.

For the first quarter ended Dec. 30, 2017, the Colorado-based company's net profit came in at $5.2 million with diluted EPS of 23 cents, higher than the S&P Capital IQ mean consensus estimate of 7 cents per diluted share. For the comparable period a year earlier, it earned about $2.1 million, or 9 cents per diluted share.

Net sales for the quarter rose 10.3% year over year to $202.5 million, compared with $183.6 million in the first quarter of fiscal 2016.