La-Z-Boy: Fiscal 3Q Earnings Snapshot
MONROE, Mich. (AP) _ La-Z-Boy Inc. (LZB) on Tuesday reported fiscal third-quarter profit of $28.7 million.
On a per-share basis, the Monroe, Michigan-based company said it had profit of 61 cents. Earnings, adjusted for non-recurring costs, came to 63 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.
The furniture company posted revenue of $467.6 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $457.2 million.
La-Z-Boy shares have climbed 16 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $32.22, an increase of 11 percent in the last 12 months.