U.S. Markets close in 3 hrs 35 mins

Fred's: Fiscal 4Q Earnings Snapshot

MEMPHIS, Tenn. (AP) _ Fred's Inc. (FRED) on Monday reported fiscal fourth-quarter net income of $68.7 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Memphis, Tennessee-based company said it had profit of $1.91. Losses, adjusted to account for discontinued operations, were $1.86 per share.

The discount retailer posted revenue of $307.1 million in the period.

For the year, the company reported that its loss narrowed to $13 million, or 36 cents per share. Revenue was reported as $1.27 billion.

The company's shares closed at $1.38. A year ago, they were trading at $1.63.

_____

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