* Q1 adj EPS $0.10 vs est $0.10
* Q1 revenue $44.3 mln vs est $45.1 mln
* Maintains FY sales, adjusted earnings outlook
* Shares slump 19 pct
May 30 (Reuters) - Specialty tea retailer Teavana Holdings Inc reported lower-than-expected quarterly revenue on tepid sales at its stores open at least a year.
The company’s shares plunged 19 percent to their life-low of $13.60 in early trading. The stock was one of the top percentage losers on the New York Stock Exchange.
Net sales rose 27 percent to $44.3 million in the first quarter, but missed estimates of $45.1 million, according to Thomson Reuters I/B/E/S.
Comparable sales increased 1.7 percent.
Net income rose to $3.5 million, or 9 cents a share, from $3.3 million, or 9 cents a share, a year earlier.
Excluding items, it earned 10 cents a share, in line with the average analysts’ estimate.