February 17, 2010 / 7:34 PM / in 8 years

UPDATE 1-Leon's Furniture Q4 EPS tops estimates

* Q4 EPS C$0.33 vs est C$0.29

* Sales down 4 pct

Feb 17 (Reuters) - Canadian retailer Leon’s Furniture Ltd LNF.TO posted a fourth-quarter profit above market estimates, helped by lower expenses.

Leon‘s, a home furnishings retailer, reported a net income of C$24.0 million, or 33 Canadian cents a share, compared with a profit of C$23.2 million, or 32 Canadian cents a share, a year ago.

Sales dropped 4 percent to C$198 million. Total Leon’s sales, including franchise sales, fell to C$255.7 million.

Same store corporate sales for the quarter fell 4.5 percent, the company said.

Analysts on average were expecting earnings of 29 Canadian cents a share, according to Thomson Reuters I/B/E/S.

Shares of the Toronto-based company were down 16 Canadian cents, or 1 percent, at C$11.79 Wednesday afternoon on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Ratul Ray Chaudhuri)

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