DETROIT, March 31 (Reuters) - Auto retailer CarMax Inc. on Monday said its fourth-quarter net earnings were essentially flat over a year ago despite higher sales.
CarMax said it earned $19.1 million, or 18 cents per share in the quarter ended Feb. 28, vs. $18.4 million or 18 cents per share in the previous fourth quarter.
Excluding one-time items, the Richmond, Virgina-based retailer said its earnings were also 18 cents per share.
CarMax trimmed its profit outlook for the quarter earlier this month, saying snowstorms across much of the country had cost it 3 to 4 percentage points in sales growth. It also said lower approval rates by two of its third-party lenders hurt sales.
Analysts had expected earnings between 17 cents and 18 cents per share, according to Thomson First call, with the average estimate at 17 cents.