* Q4 EPS $1.06 vs est $0.94

* Revenue $595.6 mln vs est $597.9 mln

* Sees FY EPS from cont ops $2.85 to $3.10

* Sees FY capex $70 mln-$75 mln

* Shares up as much as 4 percent (Recasts; adds details, analyst comments, updates stock move)

By Vidya Lakshmi

BANGALORE, Sept 15 (Reuters) - Cracker Barrel Old Country Store Inc (CBRL.O: Quote, Profile, Research) posted a better-than-expected adjusted quarterly profit helped by cost savings, and paid down a portion of its debt allaying fears about a possible breach of covenants.

"I think that with paying down $133 million in debt this quarter, any concerns investors might have regarding leverage covenant should be evaded at this point," Keybanc Capital Markets analyst Brad Ludington said by phone.

The covenant issue became tighter back in May, but is less of an issue now, MKM Partners analyst Stephen Anderson told Reuters.