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We provide the latest news from the world of economics and finance
(RTTNews) - La-Z-Boy Inc. (LZB) shares are gaining more than 17 percent on Tuesday morning trade after the company reported 14 percent increase in fourth quarter earnings, compared to the prior year.
The quarterly earning attributable to the company was $39.31 million, or $0.91 per share, up from $34.37 million or $0.79 per share, a year ago. On an adjusted basis, earnings were $40.81 million or $0.95 per share.
Looking ahead to the first quarter, the upholstery furniture products manufacturer expects sales to be in the range of $475-495 million.
Currently, shares are at $40, up 17.48 percent from the previous close of $34.09 on a volume of 1,315,460.
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