16 percent rise in earnings at Cato, lowers outlook

The Cato Corporation reported net income for the fourth quarter of 9.2 million dollars or 0.33 dollars per diluted share, compared to net income of 3.8 million dollars or 0.13 dollars per diluted share for the fourth quarter, last year. For the quarter, net income increased 139 percent and earnings per diluted share increased 154 percent from the prior year. Full year fiscal 2014 net income was 60.5 million dollars or 2.15 dollars per diluted share compared to 54.3 million dollars or 1.86 dollars per diluted share for 2013. For the year, net income increased 11 percent and earnings per diluted share increased 16 percent from the prior year.