La-Z-Boy Blows Away Earnings Estimates (LZB)

La-Z-Boy Inc. (NYSE: LZB) reported net income of $11 million or $0.21 per share versus a loss of $64.5 million or $1.25 per share in the year ago period. Revenues increased by 5.7% to $305.1 million from $288.6 million in last year's corresponding quarter. Wall Street analysts had been expecting EPS of $0.09 on revenue of $275.56 million, so La-Z-Boy eclipsed expectations by a fairly wide margin.

In the after hours trading session, LZB shares have appreciated 6% to $12.34. This is on top of the 6.69% that the stock gained during regular market hours. All in all, today has been excellent for LZB shareholders. In fact the last year has been down right unbelievable, as this stock has gained 1,125% during this time.