NEWS
03/30/2016 07:33 EDT | Updated 03/31/2017 01:12 EDT

Lululemon tops 4Q earnings and revenue expectations

VANCOUVER, British Columbia (AP) _ Lululemon Athletica Inc. (LULU) on Wednesday reported fiscal fourth-quarter net income of $117.4 million.

On a per-share basis, the Vancouver, British Columbia-based company said it had net income of 85 cents.

The results beat Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The athletic apparel maker posted revenue of $704.3 million in the period, also surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $692.2 million.

For the year, the company reported profit of $266 million, or $1.89 per share. Revenue was reported as $2.06 billion.

For the current quarter ending in May, Lululemon said it expects revenue in the range of $483 million to $488 million. Analysts surveyed by Zacks had expected revenue of $487.1 million.

The company expects full-year earnings to be $2.05 to $2.15 per share, with revenue ranging from $2.29 billion to $2.34 billion.

Lululemon shares have climbed 17 per cent since the beginning of the year. The stock has decreased 5.5 per cent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LULU at http://www.zacks.com/ap/LULU

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Keywords: Lululemon, Earnings Report

The Associated Press