UPDATE: Hibbett Sports Posts Upbeat Q4 Profit

Hibbett Sports HIBB reported 22.3% rise in its fourth-quarter net income. Hibbett Sports' quarterly net income surged to $19.4 million, from $15.8 million, in the year-ago period. Its earnings per share rose 23.7% to $0.73 from $0.59. Its revenue gained 14.0% to $217.4 million from $190.7 million. However, analysts were expecting a profit of $0.72 per share on revenue of $217.74 million. Its comparable store sales climbed 4.9%, while gross profit rose to 36.1% of net sales, versus 35.8%. Hibbett Sports expects FY14 earnings of $2.85 to 3.05 per share, versus analysts' estimates of $3.02 per share. Hibbett Sports shares gained 4.40% to $55.99 in pre-market trading.