Williams-Sonoma Inc. (WSM) Tuesday reported a rise in profit for the fourth quarter, helped mainly by a double-digit revenue growth. Both earnings and revenues came in above analysts' expectations. The company has also provided a full-year guidance which is currently above Street view.
Net earnings attributable to the company increased to $133.73 million or $1.34 per share from $122.59 million or $1.17 per share in the comparable quarter last year.
On average, 28 analysts polled by Thomson Reuters expected the company to earn $1.29 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues totaled $1.41 billion, up 10.9 percent from $1.27 billion last year. Analysts expected revenues of $1.40 billion. On a comparable-weeks basis, net revenues grew 4.9 percent from last year.
Looking ahead to the fiscal 2013, the company has forecast earnings in the range of $2.65 to $2.75 per share, with revenues in the order of $4.20 billion and $4.28 billion. Analysts currently expect the company to report full-year earnings of $2.54 per share on revenues of $4.04 billion.
The company also said that its Board of Directors has authorized a quarterly cash dividend to $0.31 per share, up 41 percent from the previous dividend. The dividend is payable May 24 to stockholders on record April 26.
The board has also authorized a new $750 million stock repurchase program over the next three years.
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