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Non-Tech : Home Depot (HD)
HD 228.22+0.7%Oct 8 3:13 PM EST

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From: Neil H2/22/2011 6:42:24 AM
   of 1170
 
Home Depot 4th-quarter net surges; raises outlook
Home Depot 4th-quarter net income rises 72 percent on improving sales, raises 2011 guidance


ShareretweetEmailPrintOn Tuesday February 22, 2011, 6:24 am
ATLANTA (AP) -- Home Depot says its fourth-quarter net income rose 72 percent more people started on home-improvement projects. The retailer is also reporting its first yearly revenue increase since 2006 and raising its 2011 net income guidance.

Fourth-quarter net income rose to $587 million, or 36 cents per share. Analysts expected 31 cents per share, according to FactSet.

Revenue rose 4 percent to $15.13 billion. Analysts expected $14.81 billion.

Revenue in stores open at least a year rose 3.9 percent.

For the year, net income rose 25 percent and revenue increased 2.8 percent to $68 billion.

For 2011, the company expects net income to rise 9.5 percent to $2.20 per share. That's up from a prior forecast of a 7 percent to 9 percent increase.
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