NEWS
03/30/2016 10:03 EDT | Updated 03/31/2017 01:12 EDT

Lululemon posts US$117 million Q4 profit, direct sales help boose revenue by 17%

VANCOUVER — Lululemon Athletica Inc.'s net income in the fourth quarter was US$117.4 million, up six per cent from a year earlier and better than analyst estimates.

The profit amounted to 85 cents per diluted share and compares with US$110.8 million or 79 cents per share in the fourth quarter of Lululemon's 2014-15 financial year.

The Vancouver-based clothing company, which reports in U.S. currency, says its revenue for the quarter ended Jan. 31, 2016, was nearly $704.3 million — up almost 17 per cent from $602.5 million a year earlier.

The results were above analyst estimates of $693.38 million of revenue and 81 cents per share of net income, according to Thomson Reuters data.

Direct sales to consumers generated $146.3 million of revenue, up 28 per cent. Total comparable sales after adjusting for currency fluctuation was up 11 per cent, or five per cent excluding direct sales.

For the current quarter, Lululemon (Nasdaq:LULU) estimates between $483 million and $488 million of revenue and between 28 and 30 cents per share of earnings.

For the full fiscal year, it estimates between $2.285 billion and $2.335 billion of revenue — up from $2.06 billion in the 2015-16 financial year. Diluted earnings per share is estimated at between $2.05 and $2.15 per share, up from $1.89 per share in the year ended Jan. 31.

The Canadian Press