By  on September 30, 2009

Walgreen Co. posted a 1.6 percent decline in net income for the fourth quarter ended Aug. 31 on higher selling, general and administrative expenses, but nonetheless managed to beat Wall Street analysts’ earnings expectations.

The drugstore chain’s profits were $436 million, or 44 cents a diluted share, down from $443 million, or 45 cents, in the same period a year ago. Analysts on average had estimated EPS of 39 cents a share.

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