ROANOKE, Va. (AP) _ Advance Auto Parts says its fourth-quarter profit fell 24 percent on costs related to the acquisition of two car parts suppliers. Its adjusted earnings and revenue beat Wall Street expectations, however. Its shares climbed in premarket trading Thursday.
The company reported net income of $49.3 million, or 67 cents per share, for the quarter, down from $65.1 million, or 88 cents per share, a year ago. Advance Auto Parts said adjusted earnings were 94 cents per share. Analysts expected earnings of 81 cents per share. Revenue increased 6 percent to $1.41 billion. Analysts expected revenue of $1.39 billion.
Advance Auto Parts Inc., based in Roanoke, Va., operates more than 5,295 stores in the U.S., Puerto Rico and the Virgin Islands.