Reuters: Regulatory News: UPDATE 1-Cost cuts help Regis beat profit estimates

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UPDATE 1-Cost cuts help Regis beat profit estimates Apr 26th 2012, 11:37 Thu Apr 26, 2012 7:37am EDT * Q3 adj EPS $0.32 vs est. $0.26 * Q3 sales $573.6 mln vs est. $572.3 mln * Sees 2012 oper EPS $1.11-$1.21 vs est. $1.18 April 26 (Reuters) - Hair-salon operator Regis Corp posted an adjusted quarterly profit above market expectations helped by cost cuts. The operator of the Vidal Sassoon and Supercuts chains had hired a financial adviser to help look at options for its non-core assets. Regis recently sold its minority stake in European peer Provalliance to the Provost family to focus on its North American operations. Regis' third-quarter net loss narrowed to $1.4 million, or 2 cents per share, from $25.3 million, or 45 cents per share, a year earlier. Excluding non-operational items, Regis earned 32 cents a share. The company had earlier said sales fell about 1 percent to $573.6 million. Analysts on average had expected the company to earn 26 cents per share on revenue of $572.3 million, according to Thomson Reuters I/B/E/S. Shares of the company closed at $18.31 on Wednesday on the New York Stock Exchange.

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