La-Z-Boy Q4 Profit Rises - Quick Facts

(RTTNews) - La-Z-Boy Inc. (LZB) reported that its fourth-quarter net income attributable to the company rose to $2.30 million or $0.05 per share from $1.53 million or $0.03 per share in the prior year.

Non-GAAP earnings per share was $0.49 compared to $0.64 last year. Non-GAAP earnings per share for the latest-quarter excluded a non-cash pre-tax, non-tax-deductible goodwill impairment charge of $26.9 million, or $0.58 per share.

Consolidated sales for the fourth quarter of fiscal 2020 decreased 19.1% to $367.3 million, due to the impact of COVID-19 on the last two months of the quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share and revenues of $384.96 million for the quarter. Analysts' estimates typically exclude special items.