Starbucks Corp. (NASDAQ: SBUX) reported fiscal fourth-quarter and full-year 2014 results after markets closed Thursday. For the quarter, the coffee roaster and restaurant company posted adjusted diluted earnings per share (EPS) of $0.74 on revenues of $4.18 billion. In the same period a year ago, the company reported EPS of $0.63 on revenues of $3.8 billion. Fourth-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.74 and $4.23 billion in revenues.

For the full year, EPS totaled $2.66 and revenues came in at $16.4 billion, compared with 2013 EPS of $2.26 and revenues of $14.89 billion. Consensus estimates called for 2014 EPS of $2.67 on revenues of $16.5 billion.

Full-year same-store sales rose 6% in the Americas, 5% in EMEA and 7% in Asia/Pacific. Starbucks opened 1,599 new stores (net) in the fiscal year, including 742 in China/Asia Pacific, 698 in the Americas and 171 in Europe, Middle East and Africa. For the quarter, same-store sales rose 5% in every region.

The company’s CEO said:

Starbucks performance in fiscal 2014 was extraordinary by any metric or comparison. But we cannot be content with the status quo, as consumers continue to demand more and more in terms of convenience and excellence. You will see us continue to invest where it counts most, in mobile commerce, innovation, in the customer experience and the partners who drive it and in the quality of our coffees.

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For the 2015 fiscal year, Starbucks expects to open a total of about 1,650 NET new stores. About 650 will be opened in the Americas and about half of those will be licensed. Another 150 are planned for EMEA, primarily licensed, and about 850 in China/Asia Pacific, of which two-thirds are expected to be licensed.

The fiscal year 2015 adjusted EPS forecast calls for $3.08 to $3.13 on revenue growth of 16% to 18%, including more than $1 billion from the planned acquisition of Starbucks Japan. The consensus analysts’ estimates call for EPS of $3.16 on revenues of $18.43 billion.

Global comparable store sales growth continues to be targeted in the mid-single digits.

Starbucks’ earnings met the target, and revenues were a little light. The EPS outlook is below the consensus estimate. It is also not clear if the revenue estimate includes the Starbucks Japan acquisition. All in all, a disappointing show for investors.

Starbucks’ shares were down about 4.8% in after-hours trading, at $73.64 in a 52-week range of $67.93 to $92.50. Thomson Reuters had a consensus analyst price target of around $90.60 before the report.

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