OVS SpA said its normalized net income for the fiscal fourth quarter ended Jan. 31 was 4 euro cents per share, a decline of 64.7% from 11 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €5.3 million, a decrease of 64.7% from €15.0 million in the year-earlier period.
Reported net income rose 12.9% year over year to €15.8 million, or 11 cents per share, from €14.0 million, or 10 cents per share.
For the year, the company's normalized net income totaled 12 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 28 cents.
EPS declined 28.7% from 16 cents in the prior year.
Normalized net income was €16.2 million, a fall of 28.7% from €22.7 million in the prior year.
Full-year total revenue fell 42.6% year over year to €675.9 million from €1.18 billion, and total operating expenses decreased 44.7% on an annual basis to €602.2 million from €1.09 billion.
The company said reported net income came to a loss of €3.8 million, or a loss of 3 cents per share, in the full year, compared with a loss of €9.8 million, or a loss of 7 cents per share, the prior year.
