Sally Beauty shares rise on 2nd-quarter results

Profit for the quarter ended March 31 rose 12 percent to $12.4 million, or 7 cents per share, from $11.4 million, or 6 cents per share last year. Excluding a one-time charge related to mark-to-market changes in the fair value of the company's interest rate swaps, net income was 10 cents per share.

Analysts, on average, expected earnings of 7 cents per share, according to a survey by Thomson Financial.

Revenue rose 6 percent to $643.3 million from $609.3 million last year. Analysts expected revenue of $642 million.

Same-store sales, or sales in stores open at least one year, rose 2.8 percent.

The Denton, Texas-based company also said it purchased Pro-Duo NV, a beauty-supply chain with stores in Belgium, France and Spain, for 19.3 million Euros ($29.8 million) to expand its international presence.

Shares rose 78 cents, or 13.5 percent, to $6.54 during afternoon trading. The stock has traded between $5.64 and $10.84 during the past 52 weeks.