NATICK, Mass. – BJ's Wholesale Club Inc. said Wednesday that its fiscal fourth-quarter profit rose 5 percent partly on favorable state income tax audit settlements.

The nation's third-biggest warehouse club also predicted 2009 earnings within range of analysts' estimates.

Earnings climbed to $52.7 million, or 91 cents per share, from $50.2 million, or 80 cents per share, in the same quarter a year ago.

Excluding the audit settlements which added 2 cents per share, BJ's reported profit of 89 cents per share in the quarter ended Jan. 31.

Revenue grew 3 percent to $2.56 billion from $2.48 billion.

Analysts polled by Thomson Reuters forecast net income of 86 cents per share on sales of $2.63 billion. Analysts' estimates typically exclude one-time items.

Same-club sales, or sales at locations open at least a year, increased 1.7 percent. Excluding gas, same-club sales rose 6.4 percent.

BJ's said full-year net income increased 10 percent to $134.6 million, or $2.28 per share, from $122.9 million, or $1.90 per share, in the previous year.

Adjusted earnings were $2.23 per share in the most recent fiscal year.

Annual sales improved to $10.03 billion from $9.01 billion, while same-store club sales climbed 9.4 percent on increased gas sales. Merchandise same-store sales grew 6.4 percent.

BJ's projects earnings of $2.26 to $2.36 per share in 2009, while analysts expect a profit of $2.28 per share.

The company currently runs 180 BJ's Wholesale clubs in 15 states.

Earlier in the day, BJ's rival Costco Wholesale Corp. said its fiscal second-quarter profit fell 27 percent.