UPDATE: Lululemon Posts Upbeat Q4 Earnings, Issues Weak Q1 Outlook

Lululemon Athletica LULU reported better-than-expected fourth-quarter earnings. Lululemon's quarterly profit rose to $109.7 million, versus a year-ago profit of $109.4 million. On a per-share basis, its earnings came in at $0.75. Its revenue surged 7% to $521 million versus $485.5 million. However, analysts were projecting earnings of $0.72 per share on revenue of $515 million. Lululemon expects Q1 earnings of $0.31 to $0.33 per share on revenue of $377 million to $382 million and full-year earnings of $1.80 to $1.90 per share and revenue of $1.77 billion to $1.82 billion. However, analysts were projecting Q1 earnings of $0.36 per share on revenue of $389 million. Lululemon shares dropped 1% to $47.75 in pre-market trading.