Shares in Obagi Medical Products Inc. closed down 4.7 percent Monday and continued to slide after reporting strong fourth quarter earnings.

Obagi reported net income was $4.48 million (20 cents per share), a 76 percent hike from $2.54 million (14 cents) from the same period a year earlier below analysts; expectation of 25 cents per share, according to a poll preformed by Bloomberg.

Sales for the Long Beach-based prescription skincare products maker rose 19 percent to $27.3 million. Obagi said that an expanded sales force and added physician accounts helped boost quarterly numbers.

Obagi also forecasted earnings for the 2008 of 94 cents to 98 cents a share on sales of $120 million to $125 million. Wall Street’s expectations are in the higher end of the estimates, with analysts saying they expect 98 cents per share on sales of $126 million.

Shares in Obagi closed down 4.7 percent to $14.83 and continued to plunge, dropping more than 13 percent to $12.85in after-hours trading Monday on the New York Stock Exchange.