BRUNELLO CUCINELLI SpA said its normalized net income for the fourth quarter was 7 euro cents per share, compared with the S&P Capital IQ consensus estimate of 10 cents per share.

EPS declined 17.0% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €4.4 million, a decrease of 17.0% from €5.3 million in the prior-year period.

The normalized profit margin fell to 4.6% from 6.8% in the year-earlier period.

Total revenue increased 22.9% on an annual basis to €96.6 million from €78.6 million, and total operating expenses increased 24.7% from the prior-year period to €86.8 million from €69.6 million.

Reported net income increased from the prior-year period to €6.4 million, or 9 cents per share, from €6.2 million, or 9 cents per share.

For the year, the company's normalized net income totaled 43 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 49 cents.

EPS declined from 44 cents in the prior year.

Normalized net income was €29.3 million, a fall from €29.9 million in the prior year.

Full-year total revenue increased 16.4% on an annual basis to €414.2 million from €355.9 million, and total operating expenses rose 18.2% on an annual basis to €363.1 million from €307.2 million.

The company said reported net income totaled €33.3 million, or 49 cents per share, in the full year, compared with €33.1 million, or 49 cents per share, the prior year.