BURNABY, British Columbia (AP) _ Ritchie Bros. Auctioneers Inc. (RBA) on Thursday reported fourth-quarter earnings of $30.6 million.

The Burnaby, British Columbia-based company said it had net income of 27 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 50 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The heavy equipment auctioneer posted revenue of $359.4 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $391.9 million.

For the year, the company reported profit of $151.9 million, or $1.36 per share. Revenue was reported as $1.42 billion.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RBA at https://www.zacks.com/ap/RBA

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News