Profit at Lowe's Inc. slipped more than 10 percent in the fourth quarter but bested analysts expectations.
A portion of the difference can be attributed to the Mooresville-based company's fiscal calendar. Its fourth quarter ends on the Friday nearest the end of January, meaning that the most recent quarter was a week shorter than that in 2011.
The company's fourth quarter earnings per share of 26 cents were unchanged from a year ago. Full-year net income rose 6.5 percent to $1.9 billion.
In a statement, CEO Robert Niblock called the results "solid" and attributed some of the performance to reconstruction and remodeling after superstorm Sandy.
Executives at Lowe's, the country's second-biggest home improvement chain, will host a conference call with analysts at 9 a.m.
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