U.S. Markets open in 5 hrs

Ollie's Bargain Outlet tops Street 4Q forecasts

HARRISBURG, Pa. (AP) _ Ollie's Bargain Outlet Holdings Inc. (OLLI) on Tuesday reported fiscal fourth-quarter net income of $24.4 million.

On a per-share basis, the Harrisburg, Pennsylvania-based company said it had net income of 39 cents.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The retailer posted revenue of $283.4 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $280.9 million.

For the year, the company reported profit of $59.8 million, or 96 cents per share. Revenue was reported as $890.3 million.

Ollie's Bargain Outlet expects full-year earnings to be $1.12 to $1.15 per share, with revenue in the range of $1.02 billion to $1.03 billion.

Ollie's Bargain Outlet shares have climbed 16 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $33.10, an increase of 47 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 OLLI at https://www.zacks.com/ap/OLLI

_____

Keywords: Ollie's Bargain Outlet, Earnings Report