MONROE, Mich. (AP) _ La-Z-Boy Inc. (LZB) on Tuesday reported fiscal fourth-quarter profit of $28 million.
On a per-share basis, the Monroe, Michigan-based company said it had net income of 57 cents.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The furniture company posted revenue of $412.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $401.1 million.
For the year, the company reported profit of $85.9 million, or $1.73 per share. Revenue was reported as $1.52 billion.
La-Z-Boy shares have fallen 16 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.20, a climb of roughly 1 percent in the last 12 months.
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