EMERYVILLE, Calif. (AP) — EMERYVILLE, Calif. (AP) — Grocery Outlet (GO) on Tuesday reported fourth-quarter net income of $15.9 million.
On a per-share basis, the Emeryville, California-based company said it had net income of 16 cents. Earnings, adjusted for one-time gains and costs, were 25 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The supermarket company selling discount, overstocked and closeout products posted revenue of $930.8 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $904.2 million.
For the year, the company reported profit of $65.1 million, or 65 cents per share. Revenue was reported as $3.58 billion.
Grocery Outlet expects full-year earnings in the range of 94 cents to 99 cents per share, with revenue in the range of $3.85 billion to $3.9 billion.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GO at https://www.zacks.com/ap/GO
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