UPDATE 2-Cabela's 4th-qtr beats Wall St; shares climb

* Q4 adj EPS $1.06 vs est $0.99

* Q4 rev up 5.4 pct at $983.7 mln vs est $963 mln

* Shares rise 7 percent premarket

Feb 16 (Reuters) - Outdoor-gear retailer Cabela's Inc posted quarterly results above Wall Street estimates, helped by improved gross margins.

Shares of the company were up 7 percent at $30.40 in premarket trading on Thursday.

Cabela's, which mainly sells equipment for outdoor activities such as hunting and fishing, reported a fourth-quarter net income of $69.8 million, or 99 cents a share, compared with $66.3 million, or 95 cents a share, last year.

Excluding items, the company earned $1.06 a share.

Revenue rose 5.4 percent to $983.7 million.

Analysts, on average, estimated earnings of 99 cents a share on revenue of $963 million, according to Thomson Reuters I/B/E/S.

Cabela's, which offers customers credit cards and loyalty reward programs through its financial services division, reported a 34.5 percent rise in revenue from the unit to $77.7 million.