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New Look Vision profit beats consensus by 27.9% in fiscal Q4

New Look Vision Group Inc. said its normalized net income for the fiscal fourth quarter ended Dec. 26, 2015, amounted to 26 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS climbed 80.0% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$3.6 million, an increase of 83.8% from C$2.0 million in the prior-year period.

The normalized profit margin climbed to 8.1% from 4.8% in the year-earlier period.

Total revenue grew 9.3% year over year to C$44.6 million from C$40.8 million, and total operating expenses increased year over year to C$37.9 million from C$36.6 million.

Reported net income increased 90.2% year over year to C$3.9 million, or 28 cents per share, from C$2.0 million, or 15 cents per share.

For the year, the company's normalized net income totaled 79 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 91 cents.

EPS rose 30.9% from 60 cents in the prior year.

Normalized net income was C$10.8 million, a gain of 36.8% from C$7.9 million in the prior year.

Full-year total revenue grew 24.5% from the prior-year period to C$174.6 million from C$140.2 million, and total operating expenses grew 23.8% on an annual basis to C$152.7 million from C$123.3 million.

The company said reported net income rose 18.7% on an annual basis to C$9.2 million, or 67 cents per share, in the full year, from C$7.8 million, or 59 cents per share.