Dollar General Corp. (NYSE: GS) reported Wednesday that its fourth-quarter profits rose with an increase in revenue and a key sales figure, according to Associated Press.
Dollar General's profit climbed 7 percent to $87.2 million, or 26 cents per share, compared to a profit of $81.9 million, or 26 cents per share, a year ago.
Excluding charges related to the termination of a sponsor advisory deal with Kohlberg, Kravis, Roberts & Co. and Goldman, Sachs & Co. as well as other one-time items, profit was 51 cents per share.
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This easily surpassed the 43 cents-per-share estimate of analysts polled by Thomson Reuters. These estimates typically take out one-time charges.
The discount store operator forecast that 2010 earnings will be in range of Wall Street's expectations.
Revenue grew 12 percent in the quarter to $3.19 billion from $2.85 billion.
During the quarter, sales at stores open at least a year increased 7.4 percent. Same store sales for Dollar General jumped 9.5 percent in 2009, topping even 2008 sales growth of 9 percent.
Full-year profit more than doubled to $339.4 million, or $1.04 per share, from $108.2 million, or 34 cents per share, in the prior year.
Annual revenue rose 13 percent to $11.8 billion from $10.46 billion.
For 2010, Dollar General anticipates a profit between about $1.55 and $1.63 per share, with sales up 8 percent to 10 percent. Based on 2009 revenue of $11.8 billion, this would imply sales of $12.74 billion to $12.98 billion for the year.
Analysts forecast full-year earnings of $1.56 per share on revenue of $12.96 billion.
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