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Advance Auto Parts 4Q profit falls 2 percent

Thursday - 2/7/2013, 10:10am  ET

AP Business Writer

RICHMOND, Va. (AP) -- Advance Auto Parts says its fourth-quarter net income fell 2 percent as flat sales were offset by higher costs.

The Roanoke, Va., seller of auto parts and batteries said Thursday that it earned $65.1 million, or 88 cents per share, for the quarter ended Dec. 31. That's down from $66.4 million, or 90 cents per share, a year ago.

The results beat Wall Street expectations of 75 cents per share.

Revenue increased slightly to $1.33 billion, matching analyst estimates.

Revenue at stores open at least a year decreased nearly 2 percent. That's an important measure for retailers because it excludes results from newly opened or closed stores.

Advance Auto Parts Inc. operates about 3,794 stores in the U.S., Puerto Rico and the Virgin Islands.

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