Pantry Q4 Profit Soars - Quick Facts

(RTTNews) - Convenience stores operator Pantry, Inc. (PTRY) reported that fourth-quarter net income surged to $14.7 million or $0.63 per share from $1.0 million or $0.04 per share in the prior-year quarter.

Excluding the impact of impairment charges, adjusted net income for the quarter was $15.4 million or $0.66 per share, compared to $1.4 million or $0.06 per share in the year-ago quarter.

On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter declined to $1.96 billion fro $2.02 billion in the same quarter last year. Four Wall Street analysts had a consensus revenue estimate of $1.98 billion for the quarter. Comparable store merchandise revenue increased 2.5 percent.

The company also projects merchandise sales in a range of $448 million to $453 million for the first quarter and in the range of $1.85 billion to $1.88 billion for fiscal 2015. The company noted that Fiscal 2015 guidance assumes closure of about 40-50 stores.