Spartan Stores: 4Q Earnings Snapshot
GRAND RAPIDS, Mich. (AP) _ Spartan Stores Inc. (SPTN) on Wednesday reported fourth-quarter net income of $12.1 million.
The Grand Rapids, Michigan-based company said it had profit of 34 cents per share. Earnings, adjusted for one-time gains and costs, were 43 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The grocery store operator and grocery distributor posted revenue of $2.25 billion in the period.
For the year, the company reported profit of $75.9 million, or $2.12 per share. Revenue was reported as $9.35 billion.
Spartan Stores expects full-year earnings in the range of $1.65 to $1.80 per share, with revenue in the range of $8.8 billion to $9 billion.
Spartan Stores shares have risen 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.10, an increase of 36% in the last 12 months.