PHILADELPHIA (AP) _ Urban Outfitters Inc. (URBN) on Tuesday reported fiscal fourth-quarter net income of $19.5 million.
The Philadelphia-based company said it had net income of 20 cents per share. Earnings, adjusted for asset impairment costs and pretax expenses, were 50 cents per share.
The results did not meet Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The clothing and accessories retailer posted revenue of $1.17 billion in the period, which matched Street forecasts.
For the year, the company reported profit of $168.1 million, or $1.67 per share. Revenue was reported as $3.98 billion.
Urban Outfitters shares have decreased 17% since the beginning of the year, while the Standard & Poor's 500 index has decreased 7%. In the final minutes of trading on Tuesday, shares hit $23.13, a decrease of 23% in the last 12 months.