Lowe's 4Q Profit Rises 37 Percent

MOORESVILLE, N.C. (AP) _ Lowe's Cos., the second largest home improvement retailer, said Monday that its fourth-quarter profit rose 37 percent as same-store sales increased. <br/><br/>Net income grew

Monday, February 27th 2006, 9:20 am

By: News On 6

MOORESVILLE, N.C. (AP) _ Lowe's Cos., the second largest home improvement retailer, said Monday that its fourth-quarter profit rose 37 percent as same-store sales increased.

Net income grew to $695 million, or 87 cents per share, from $508 million, or 64 cents per share, a year ago. Revenue rose 26 percent to $10.81 billion from $8.55 billion last year, as same-store sales for the quarter increased 7.8 percent from a year ago.

Analysts surveyed by Thomson Financial expected earnings per share of 80 cents on revenue of $10.44 billion.

The company forecast earnings per share of 92 cents to 94 cents for the first quarter, and $4.03 to $4.13 for the year. Analysts estimate earnings per share of 88 cents for the first quarter, and $3.95 for the year.