Salon, cosmetics and fragrance retailer Ulta posted favorable financial results for the first quarter ended April 30, 2011.Net sales increased 20.6% to $386.0 million; while operating income increased 67.4% to $39.1 million. Net income increased 70.5% to $23.3 million. “We had a terrific start to the year with total sales, comparable store sales and net income per share solidly ahead of our guidance, demonstrating the ongoing preference of our beauty experience and the continued success of ou...