Tuesday Morning Corporation reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported net sales of $285,312,000 against $273,054,000 for the same period last year. Operating loss was $22,593,000 against operating income of $25,485,000 for the same period last year. Loss before income taxes was $24,346,000 against income before income taxes of $24,942,000 for the same period last year. Net loss was $21,466,000 or $0.51 per basic and diluted share against net income of $15,857,000 or $0.37 per basic and diluted share for the same period last year. Non-GAAP adjusted net income was $15,453,000 or $0.37 per share against $15,857,000 or $0.37 per share for the same period last year. The company invested $2.7 million in capital expenditures, primarily for store remodels and merchandise systems.

For the six months, the company reported net sales of $458,107,000 against $443,707,000 for the same period last year. Operating loss was $33,477,000 against operating income of $16,986,000 for the same period last year. Loss before income taxes was $35,594,000 against income before income taxes of $15,688,000 for the same period last year. Net loss was $28,427,000 or $0.68 per basic and diluted share against net income of $10,166,000 or $0.23 per basic and diluted share for the same period last year. Net cash provided by operating activities was $13,684,000 against $67,034,000 for the same period last year. Capital expenditures were $6,360,000 against $5,571,000 for the same period last year. Non-GAAP adjusted net income was $9,626,000 or $0.23 per share against $10,166,000 or $0.23 per share for the same period last year.

The company expects capital expenditures to be in the range of $12 million to $15 million for fiscal year 2013.