HARRISBURG, Pa. (AP) _ Ollie's Bargain Outlet Holdings Inc. (OLLI) on Thursday reported fiscal fourth-quarter net income of $50.3 million.
The Harrisburg, Pennsylvania-based company said it had profit of 77 cents per share. Earnings, adjusted for pretax gains and non-recurring gains, came to 74 cents per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The retailer posted revenue of $422.4 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $436.7 million.
For the year, the company reported profit of $141.1 million, or $2.14 per share. Revenue was reported as $1.41 billion.
Ollie's Bargain Outlet shares have fallen 42% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $38.06, a fall of 52% in the last 12 months.