UPDATE 1-Hibbett raises profit view after strong 1st-qtr
* Q1 EPS $0.98 vs est $0.92
* Q1 rev $232.9 mln vs est $226.4 mln
* Raises FY13 EPS outlook to $2.50-$2.65
May 18 (Reuters) - Sportswear and shoes retailer Hibbett Sports Inc reported higher-than-expected quarterly results and raised its full-year profit forecast, citing strong demand across categories, cost cuts and improved margins.
The company, which sells sporting goods, apparel and footwear under several well-known labels such as Nike, Adidas AG, Reebok and Under Armour Inc, lifted its 2012 earnings outlook to $2.50 to $2.65 per share, from $2.35 to $2.55 per share.
First-quarter net income rose to $26.4 million, or 98 cents per share, from $21.3 million, or 76 cents per share, a year ago.
Revenue jumped 14 percent to $232.9 million.
Analysts on average had expected the company to earn 92 cents per share, on revenue of $226.4 million, according to Thomson Reuters I/B/E/S.
Comparable sales rose 11 percent.
Shares of Birmingham, Alabama-based Hibbett closed at $55.81 on Thursday on the Nasdaq. (Reporting by Arpita Mukherjee in Bangalore; Editing by Viraj Nair)
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