MONROE, Mich. (AP) — MONROE, Mich. (AP) — La-Z-Boy Inc. (LZB) on Tuesday reported fiscal fourth-quarter profit of $33.3 million.
The Monroe, Michigan-based company said it had net income of 81 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.26 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The furniture company posted revenue of $570.3 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $569.2 million.
For the year, the company reported profit of $102 million, or $2.47 per share. Revenue was reported as $2.13 billion.
For the current quarter ending in July, La-Z-Boy said it expects revenue in the range of $490 million to $510 million.
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