UPDATE: Kirkland's Q4 Profit Meets Views

reported in-line earnings for the fiscal fourth quarter on Thursday. The Brentwood, Tennessee-based company posted a quarterly profit of $15.6 million, or $0.87 per share, up from $12.3 million, or $0.69 per share, in the year-ago quarter. Its revenue climbed 14.5% to $178.7 million. However, analysts were expecting earnings of $0.87 per share on revenue of $174.9 million. Comparable store sales for the fourth quarter climbed 8.2% in the quarter. During the quarter, the company opened 11 stores and closed 4 stores. Mike Madden, Kirkland's President and Chief Executive Officer, said, "Earnings for the quarter and year came in at the top of our recently increased guidance. Traffic and conversion were both strong, and our profit margin improved for the second year in a row. Underlying business trends are encouraging thus far in 2015, despite the impact from difficult winter weather. We are confident that we can build on recent gains as we continue to leverage investments in people and technology." For the full year, Kirkland's projects earnings of $1.15 to $1.20 per share on revenue of $558.4 to $568.5 million. Analysts had expected earnings of $1.20 per share on revenue of $557.24 million. Kirkland's expects Q1 earnings of $0.09 to $0.12 per share on revenue of $117 million to $118 million. Analysts had projected earnings of $0.14 per share on revenue of $118.68 million. Kirkland's shares closed at $24.24 yesterday.