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Lifetime Brands Q4 profit climbs 35.6% YOY

Lifetime Brands Inc. said its normalized net income for the fourth quarter amounted to 72 cents per share, compared with the S&P Capital IQ consensus estimate of 64 cents per share.

EPS rose 32.7% year over year from 55 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $10.4 million, an increase of 35.6% from $7.7 million in the prior-year period.

The normalized profit margin increased to 5.5% from 4.0% in the year-earlier period.

Total revenue decreased year over year to $185.9 million from $190.0 million, and total operating expenses decreased year over year to $168.7 million from $174.2 million.

Reported net income increased 19.3% from the prior-year period to $11.0 million, or 77 cents per share, from $9.2 million, or 66 cents per share.

For the year, the company's normalized net income totaled 87 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 90 cents.

EPS rose from 35 cents in the prior year.

Normalized net income was $12.4 million, a rise from $4.8 million in the prior year.

Full-year total revenue amounted to $587.7 million, compared with $586.0 million in the prior year, and total operating expenses came to $562.7 million, compared with $565.3 million in the year-earlier period.

The company said reported net income increased year over year to $12.3 million, or 86 cents per share, in the full year, from $1.5 million, or 11 cents per share.