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Carter's beats 4Q profit forecasts

ATLANTA (AP) _ Carter's Inc. (CRI) on Tuesday reported fourth-quarter net income of $135.7 million.

On a per-share basis, the Atlanta-based company said it had net income of $2.84. Earnings, adjusted for one-time gains and costs, were $2.32 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.20 per share.

The maker of children's apparel and accessories posted revenue of $1.03 billion in the period, which met Street forecasts.

For the year, the company reported profit of $302.8 million, or $6.24 per share. Revenue was reported as $3.4 billion.

Carter's shares have climbed 4.5 percent since the beginning of the year. The stock has risen 36 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRI at https://www.zacks.com/ap/CRI