U.S. Markets open in 2 hrs 52 mins

La-Z-Boy: Fiscal 4Q Earnings Snapshot

MONROE, Mich. (AP) _ La-Z-Boy Inc. (LZB) on Tuesday reported fiscal fourth-quarter net income of $34.2 million.

On a per-share basis, the Monroe, Michigan-based company said it had net income of 72 cents. Earnings, adjusted for pretax gains, were 66 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The furniture company posted revenue of $420 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $426.8 million.

For the year, the company reported profit of $80.9 million, or $1.67 per share. Revenue was reported as $1.58 billion.

La-Z-Boy shares have risen nearly 7 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $33.25, a climb of 22 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 LZB at https://www.zacks.com/ap/LZB