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CHESAPEAKE, Va. (AP) _ Dollar Tree Inc. (DLTR) on Wednesday reported fiscal fourth-quarter net income of $123 million, after reporting a loss in the same period a year earlier.
The Chesapeake, Virginia-based company said it had net income of 52 cents per share. Earnings, adjusted for one-time gains and costs, were $1.79 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.76 per share.
The discount retailer posted revenue of $6.32 billion in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $6.39 billion.
For the year, the company reported net income of $827 million, or $3.47 per share, swinging to a profit in the period. Revenue was reported as $23.61 billion.
For the current quarter ending in May, Dollar Tree said it expects revenue in the range of $5.89 billion to $5.99 billion. Analysts surveyed by Zacks had expected revenue of $6.03 billion.
The company expects full-year earnings to be $4.80 to $5.15 per share, with revenue ranging from $24.21 billion to $24.66 billion.
Dollar Tree shares have decreased 13% since the beginning of the year, while the Standard & Poor’s 500 index has declined 7%. The stock has declined 14% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DLTR at https://www.zacks.com/ap/DLTR
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