Life Storage Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Life Storage Inc. (LSI) reported a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $74.15 million, or $0.90 per share. This compares with $41.59 million, or $0.57 per share, in last year's fourth quarter.

Excluding items, Life Storage Inc. reported adjusted earnings of $116.07 million or $1.41 per share for the period.

Analysts on average had expected the company to earn $0.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 32.8% to $221.16 million from $166.51 million last year.

Life Storage Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $74.15 Mln. vs. $41.59 Mln. last year. -EPS (Q4): $0.90 vs. $0.57 last year. -Analyst Estimate: $0.83 -Revenue (Q4): $221.16 Mln vs. $166.51 Mln last year.

-Guidance: Next quarter EPS guidance: $1.36 - $1.40