Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI) shares were down despite the company’s quarterly earnings beat.

For its fourth quarter of fiscal 2017, the company reported total operating income of $54.4 million, marking a 34% increase compared to the year-ago quarter. Net income surged 186.9% year-over-year to $70.1 million, while net income per diluted share was 174.4% better than in the year-ago quarter at $1.07 per share.

Adjusted net income tallied up to $33.1 million, a 35.6% gain year-over-year, while adjusted net income per share was up 30.8% to 51 cents per share. Analysts were calling for Ollie’s Bargain Outlet to bring in adjusted earnings of 49 cents per share.

Adjusted EBITDA was up 31% compared to the year-ago quarter to $59.2 million, while total net sales gained 25.9% to $356.7 million. The Wall Street consensus estimate called for revenue of $350.18 million.

Ollie’s comparable store sales increased 4.4% during the 13 weeks of the fourth quarter, while net sales in the 53rd week were $16.5 million and contributed to less than a penny to diluted earnings per share. The company opened three stores during the quarter, ending the year with a total of 268 stores in 20 states, marking a store count increase of 14.5% year-over-year.

For fiscal 2018, the company sees its earnings as being in the range of $1.65 to $1.69 per share, topping the consensus of $1.62 per share. Ollie’s sees its revenue as being in the range of $1.2 billion to $1.21 billion, compared to the consensus estimate of $1.22 billion.

OLLI stock fell more than 5.7% after the bell on the news.