La-Z-Boy Inc (LZB) reported a profit for third quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line totaled $28.6 million, or $0.66 per share. This compares with $31.7 million, or $0.74 per share, in last year's third quarter.
Excluding items, La-Z-Boy Inc reported adjusted earnings of $29.01 million or $0.67 per share for the period.
Analysts on average had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 12.6% to $500.4 million from $572.7 million last year.
La-Z-Boy Inc earnings at a glance (GAAP) :
-Earnings (Q3): $28.6 Mln. vs. $31.7 Mln. last year.
-EPS (Q3): $0.66 vs. $0.74 last year.
-Analyst Estimates: $0.72
-Revenue (Q3): $500.4 Mln vs. $572.7 Mln last year.
-Guidance:
Next quarter revenue guidance: $505-$535 Million
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