ELGIN, Ill. (AP) — ELGIN, Ill. (AP) — The Middleby Corp. (MIDD) on Thursday reported fourth-quarter net income of $36.9 million.
On a per-share basis, the Elgin, Illinois-based company said it had profit of 74 cents. Earnings, adjusted for one-time gains and costs, came to $2.42 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The food preparation equipment company posted revenue of $866.4 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $1 billion.
For the year, the company reported a loss of $277.7 million, or $5.32 per share. Revenue was reported as $3.2 billion.
For the current quarter ending in March, Middleby expects its per-share earnings to range from $1.90 to $2.02.
The company said it expects revenue in the range of $760 million to $788 million for the fiscal first quarter.
Middleby expects full-year earnings in the range of $9.20 to $9.36 per share, with revenue ranging from $3.27 billion to $3.36 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MIDD at https://www.zacks.com/ap/MIDD
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