(RTTNews) -  Wednesday, natural and organic foods supermarket Whole Foods Market, Inc. (WFMI: News ) reported a significantly higher profit for the fourth quarter, helped by increased sales and lower expenses related to relocation and closure of stores. In addition, the company provided earnings guidance for fiscal year 2010, which is below Consensus, sending the shares down by more than 8% in after-hours trading.

The Austin, Texas-based company's income available to common shareholders surged to $28.67 million or $0.20 per share from $1.50 million or $0.01 per share for the same quarter last year. Excluding preferred dividends of $7.74 million, the company's net income was $36.41 million. Earlier, while reporting third quarter results, the company had expected fourth-quarter earnings per share of $0.16 - $0.18.

On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

The company's third-quarter EBITDA rose to $131.18 million from $82.38 million, and adjusted EBITDA increased to $133.53 million from $91.47 million last year. Excluding LIFO benefit of $3.42 million, share-based payments expense of $3.97 million and deferred rent of $8.73 million, the company's EBITANCE was $142.80 million, up from $106.32 million for the year-ago period.

Sales for the quarter increased to $1.83 billion from $1.79 billion for the year-ago period. Analysts expected the company to report revenues of $1.84 billion for the quarter.

Comparable store sales decreased by 0.9% compared with 0.4% rise for the prior year period. However, identical store sales, excluding eight re-locations and two major expansions decreased 2.3% and excluding the negative impact of foreign currency translation, comparable store sales decreased 0.7%.
In the sequentially preceding third quarter, the company had reported a slight rise in net income available to common shareholders to $34.97 million or $0.25 per share from $33.92 million or $0.24 per share in the year-ago quarter. Revenues increased 2% to $1.88 billion from $1.84 billion in the prior-year quarter.

For the quarter under review, operating income rose to $68.78 million from $22.55 million last year, and operating income before pre-opening and store closure was $82.63 million, up from $64.86 million a year earlier.

Costs related to relocation, store closure and lease termination for the third quarter fell to $3.25 million from $27.16 million last year. Pre-opening expenses also dropped to $10.60 million from $15.15 million last year.

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