La-Z-Boy Q4 Adj. Profit Tops View - Quick Facts

(RTTNews) - Home furniture maker La-Z-Boy Inc. (LZB) Tuesday reported fourth-quarter net income attributable to the company of $12.2 million or $0.23 per share, down from $18.3 million or $0.33 per share last year.

Adjusted net income from continuing operations attributable to the company rose to $17.5 million or $0.33 per share from $17.0 million or $0.30 per share in the comparable quarter a year-ago. On average, six analysts polled by Thomson Reuters expected the company to earn $0.32 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the latest fourth quarter grew 2.1% to $353.02 million from $345.84 million last year. Analysts estimated revenues of $368.12 million for the quarter.

Further, the company increased its quarterly dividend by 50% to a rate of $0.06 per share.