Stitch Turns To Profit In Q4, Shares Up 12%

(RTTNews) - California-based e-retail company Stitch Fix, Inc. (SFIX) reported turned to profit in the fourth quarter. The earnings, reported by the company, also trumped the analyst estimates.

Stitch reported a net income of $21.60 million or $0.19 income per share, compared to a loss of $43.25 million or $0.44 loss per share in the same quarter last year. Fifteen analysts polled by Thomson Reuters expected the company to report $0.13 loss per share.

The revenue of the company also increased to $571.15 million in the quarter compared to $443.40 million last year. The revenue was boosted by an 18% increase in active client base for the e-retail chain to 4,165,000. Analysts estimated the revenue to be $547.89 million for the quarter.

The company expects the revenue for the first quarter of the next financial year to be in the range of $560 million - $575 million. Analysts forecast revenue of $591.56 million for the same period of time.

After the positive results, the shares of the company are trading at $40.20, up $4.74 or 13.37% in the aftermarket hours. The shares closed at $35.46 during regular hours. In the 52-week period, the shares have ranged between $25.19 and $113.76.