Ingles posts 4Q profit

ASHEVILLE, N.C. (AP) _ Ingles Markets Inc. (IMKTA) on Thursday reported fiscal fourth-quarter earnings of $19.4 million.

On a per-share basis, the Asheville, North Carolina-based company said it had net income of 96 cents.

The grocer posted revenue of $1.09 billion in the period.

For the year, the company reported profit of $53.9 million, or $2.66 per share. Revenue was reported as $4 billion.

Ingles shares have declined 42 percent since the beginning of the year. The stock has decreased 41 percent in the last 12 months.

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