99 Cents Only Stores (NDN) Net Income Up 161%

Retailer 99 Cents Only Stores NDN on Wednesday after the market closed released financial results that easily beat Wall Street earnings expectations. 99 Cents Only Stores reported that its fiscal 4th quarter net income more than doubled to $16.9 million, or 24 cents per share, up from $7 million, or 10 cents per share , a year earlier. Sales rose 3.1% to $339.3 million, up from $329.2 million a year earlier. Same store sales were up 3.5% from the the previous year's 4th quarter. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 17 cents per share. Shares of 99 Cents Only Stores were up nearly 3% at $15.58 per share in after hours trading.