Shares of American Apparel Inc. fell more than 17 percent Friday, a day after the apparel maker reported a lower fourth quarter profit largely due to higher expenses.

The company also delayed providing an outlook for the year, blaming it on the forced layoff of 1,500 immigrant workers.

After Thursday’s market close, the Los Angeles retailer and manufacturer reported net income of less than $3.1 million (4 cents per share) compared with $3.9 million (5 cents) a year earlier. Revenue rose 9 percent to $158 million.

Operating expenses rose 10 percent to $77.2 million, largely from increased occupancy, payroll, and depreciation expenses related the opening of 21 stores.

Comparable store sales for stores open at least 12 months fell 7 percent. American Apparel, which operates 280 retail stores in 20 countries, said it expects to report a 10 percent decline in the current first quarter.

Analysts surveyed by Thomson Reuters on average expected the company to report per-share profit of 4 cents on revenue of $144 million.

American Apparel had to fire about one-third of its Los Angeles manufacturing workers late last year whom federal immigration officials determined had suspect immigration papers. The company said it would not provide a 2010 outlook until at least May as it determines the impact of the layoffs on its production capacity.

“Our main goals for 2010 are to enhance the productivity of our existing base of retail stores, re-establish our level of manufacturing efficiency at our production facilities, and to continue to broaden our management team to implement best practices throughout our organization,” said Chief Executive Dov Charney in a press release.

Shares closed down 67 cents, or 17.5 percent, to $3.17 on the New York Alternet.