RTTNews | Mar 3, 2021 07:28AM EST

07:27 Wednesday, March 3, 2021 (RTTNews.com) - Optical retail company National Vision Holdings, Inc. (EYE) on Wednesday posted fourth-quarter net income of $35.1 million or $0.42 per share, higher than $3.92 million or $0.05 per share in the year-ago quarter.

Adjusted earnings per share was $0.45 in the fourth quarter, compared to $0.09 in the previous-year period.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.13 per share in the quarter. Analysts' estimates usually exclude one-time items.

Adjusted operating income increased to $62.8 million from $16.5 million in the prior-year period.

During the three-month period, net revenues rose 24 percent to $496.7 million from $401.8 million in the same period last year. Net revenues gained 2.8 percent due to the timing of unearned revenue.

Analysts were looking for revenues of $472.7 million in the quarter.

The additional week in the latest fourth quarter added $32.2 million to net revenue and $0.01 to earnings per share for the quarter and the year.

Comparable store sales growth was 14.3 percent while adjusted comparable store sales growth was 10.6 percent.

Looking ahead, for fiscal 2021, the company expects adjusted earnings per share between $0.88 and $0.93 while analysts are looking for $0.88 per share.

Net revenues are anticipated between $1.93 billion and $1.98 billion while analysts expect the company to report revenues of $1.95 billion.

The company expects adjusted comparable store sales growth in the range of 13 percent and 16 percent in full year 2021.

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