FORT WAYNE, Ind. (WOWO): Some positive quarterly earnings news for Vera Bradley.

After a series of disappointing quarterly earnings reports, the Fort Wayne-based maker of women's accessories announced Wednesday that sales were up slightly in the last quarter. But more importantly, profits took a leap. In the fiscal third-quarter, the company earned $10.3 million on net revenues of $127 million. That's a marked improvement over last quarter's earnings, and investors on Wall Street responded favorably, with shares up around 37% as of 1:25 p.m. Wednesday. 

The company board on Tuesday also agreed to a plan to buy back up to $50 million of common shares through December 2017.