NEW YORK (TheStreet) -- Guess' (GES) - Get Report shares are up by 10.51% to $18.50 in after-hours trading on Wednesday, following the release of the apparel company's fourth quarter earnings results, which topped analysts' expectations.

The company reported fourth quarter net income of $53.9 million, or 63 cents per diluted share, exceeding the 58 cents per share analysts had forecast by 5 cents.

Net income declined by 24.1% from the same period last year.

The company reported a 9% decline in fourth quarter revenue to $696.7 million, falling short of analysts' $704.3 million expectations for the period.

For the current quarter the company expects consolidated revenues to increase between 1% and 2% on a constant currency basis. Diluted earnings per share are expected to increase to between a range of 75 cents per share to 95 cents per share.

Separately, TheStreet Ratings team rates GUESS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate GUESS INC (GES) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• You can view the full analysis from the report here: GES Ratings Report

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