UPDATE: Lululemon Posts Upbeat Q4 Profit

Lululemon Athletica Inc

reported a rise in its quarterly profit. Lululemon posted its quarterly net income at $73.5 million, or $0.51 per share, up from $54.8 million, or $0.38 per share, in the year-ago period. Lululemon's revenue surged 51.4% to $371.5 million. However, sales at established stores surged 26%. Analysts were expecting earnings of $0.49 per share on revenue of $362.37 million. Lululemon expects Q1 revenue of $265 to $270 million and earnings of $0.28 to $0.29 per share. Analysts were expecting revenue of $257 million and earnings of $0.29 per share. Lululemon shares dropped 1.58% to $72.90 in pre-market trading.