Lululemon Q4 Net Rises; Guidance Cut on Pants Error

Lululemon athletica's  (NASDAQ: LULU  ) results for Q4 and 2012 have been released. For the quarter, net revenue advanced 31% on a year-over-year basis, to $485.5 million. Net profit also increased, landing at $109.4 million ($0.75 per diluted share) from Q4 2011's $73.5 million ($0.51), for a gain of nearly 50%.

That per-share net profit in the most recent quarter beat the average analyst estimate by $0.01.

For the full year, top line was $1.4 billion, 37% higher than the year-ago figure of $1.0 billion. Net income grew 47%, to $270.6 million ($1.85 per diluted share). The 2011 bottom line was $184.1 million ($1.27).

Lululemon also updated its Q1 and 2013 guidance following a large-scale recall of yoga pants announced earlier this week, which will negatively impact revenue and earnings. The company cut its expectations for Q1, to $333 million-$343 million in net revenue, and diluted EPS of $0.28-$0.30. For the full year, these were sliced to $1.615 billion-$1.640 billion, and $1.95-$1.99, respectively.

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