Regis Corporation (NYSE: RGS) reported Q1 EPS of $0.37, $0.27 better than the analyst estimate of $0.10. Revenue for the quarter came in at $247.04 million versus the consensus estimate of $215.45 million.

Hugh Sawyer, President and Chief Executive Officer, commented, "We are pleased to report meaningful progress in our strategic transformation to a capital light, high growth, technology enabled franchise company." Mr. Sawyer added, "We expect to utilize the cash proceeds we are generating from the sale of company-owned salons in various ways to maximize shareholder value. "Mr. Sawyer concluded, "Although we have more work to do before our transition is complete, we remain convinced that a fully franchised business that generates a higher return on its capital will prove to be in the best long-term interests of our shareholders."

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