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Amplify misses 4Q profit forecasts

AUSTIN, Texas (AP) _ Amplify Snack Brands Inc. (BETR) on Wednesday reported fourth-quarter profit of $8.5 million.

On a per-share basis, the Austin, Texas-based company said it had net income of 11 cents. Earnings, adjusted for one-time gains and costs, were 9 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The popcorn and tortilla chip maker posted revenue of $88.6 million in the period, beating Street forecasts. Six analysts surveyed by Zacks expected $87.2 million.

For the year, the company reported profit of $27.3 million, or 36 cents per share. Revenue was reported as $270.8 million.

Amplify expects full-year earnings in the range of 43 cents to 51 cents per share, with revenue in the range of $404 million to $420 million.

Amplify shares have risen roughly 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.95, a drop of 23 percent in the last 12 months.

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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 BETR at https://www.zacks.com/ap/BETR

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Keywords: Amplify Snack Brands, Earnings Report