Sales of cold weather gear helped Dick's Sporting Goods beat analysts expectations for the third quarter and the Findley retailer said it is raising its earnings projections for the full fiscal year as a result.

But Dick's warned the important fourth quarter could be difficult and offered earnings guidance below analysts estimates.

The retailer this morning reported net income of $18.9 million, or 16 cents per share, in the three months ended Oct. 31. That compares to $6.2 million, or 5 cents per share, in the same period last year.

Analysts polled by Thomson Financial Network had been looking, on average, for earnings of 9 cents per share.

Total sales rose 7.1 percent to $989.8 million, an increase that Dick's credited to a 1.9 percent improvement in sales at established stores, the opening of new locations and the addition of online sales. The company's namesake stores performed better than its Golf Galaxy chain.

"While we are pleased with the year-over-year growth in sales and operating margin generated in the third quarter, we believe we benefited from a shift of cold weather product sales from the fourth quarter to the third quarter as a result of colder weather conditions relative to last year," said Edward W. Stack, chairman and CEO, in the company's analysis of its earnings.

That shift could affect results for the holiday quarter. Earnings per share should be in the range of 41 to 46 cents per share, according to Dick's projections. Analysts had been looking for 57 cents per share.

For the full year, the retailer calculates that earnings per share will be in the range of 99 cents to $1.04. In fiscal 2008, Dick's lost 36 cents per share.

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