Carter's Inc. (CRI) reported fourth quarter adjusted net income of $0.63 per share Wednesday morning, which topped the consensus estimate of $0.44. The company expects to report first quarter adjusted EPS of $0.38 to $0.43 and between $2.40 and $2.50 for the full year 2012. The consensus estimates are for EPS of $0.50 and $2.32.
Carter's gapped up sharply Wednesday and climbed during the first 45 minutes of trade. The stock extended its gains going into the close and finished up by 4.88 at $48.57 on above average volume. Carter's surged to a new high for the year.
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