Bed Bath & Beyond: Fiscal Q4 earnings snapshot

UNION, N.J. — Bed Bath & Beyond Inc. today reported fiscal fourth-quarter net income of $9.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the company said it had net income of 8 cents. Earnings, adjusted for one-time gains and costs, came to 40 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The home goods retailer posted revenue of $2.62 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $2.61 billion.

For the year, the company reported that its loss narrowed to $150.8 million, or $1.24 per share. Revenue was reported as $9.23 billion.

Bed Bath & Beyond expects full-year revenue in the range of $8 billion to $8.2 billion.

Bed Bath & Beyond shares have increased 57% since the beginning of the year, while the S&P’s 500 index has risen 10%. The stock has risen fivefold in the past 12 months.