hhgregg, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported net sales of $799,635,000 compared with $829,546,000 for the same period a year ago. Income from operations was $29,247,000 compared with $37,044,000 for the same period a year ago. Income before income tax was $28,546,000 compared with $36,164,000 for the same period a year ago. Net income was $17,389,000 or $0.51 per diluted share compared with $22,478,000 or $0.60 per diluted share for the same period a year ago. Adjusted net income was $17,691,000 or $0.52 per diluted share compared with $22,478,000 or $0.60 per diluted share for the same period a year ago.

For the nine months, the company reported net sales of $1,877,127,000 compared with $1,879,603,000 for the same period a year ago. Income from operations was $26,858,000 compared with $46,985,000 for the same period a year ago. Income before income tax was $25,174,000 compared with $45,026,000 for the same period a year ago. Net income was $15,448,000 or $0.44 per diluted share compared with $27,743,000 or $0.72 per diluted share for the same period a year ago. Net cash provided by operating activities was $15,291,000 compared with net cash used in operating activities of $18,898,000 for the same period a year ago. Purchases of property and equipment was $50,291,000 compared with $74,996,000 for the same period a year ago. Adjusted net income was $15,750,000 or $0.45 per diluted share compared with $27,743,000 or $0.72 per diluted share for the same period a year ago.

For the quarter, the company recorded an asset impairment charges of $504,000.

The company provided earnings guidance for the full year of fiscal 2013. The company expects net income per diluted share will be within a range of $0.70 to $0.80 for fiscal 2013. Included in the company's guidance, are the following annual assumptions: fiscal 2013 comparable store sales of negative 8.5% to negative 7.5%; fiscal 2013 net sales increase of flat to 1%; net capital expenditures of approximately $45 million.