La-Z-Boy: Fiscal 2Q Earnings Snapshot
MONROE, Mich. (AP) _ La-Z-Boy Inc. (LZB) on Wednesday reported fiscal second-quarter profit of $20 million.
The Monroe, Michigan-based company said it had net income of 42 cents per share. Earnings, adjusted for non-recurring costs, were 48 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The furniture company posted revenue of $439.3 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $432.2 million.
La-Z-Boy shares have declined 6.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.16, declining slightly in the last 12 months.