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Salvatore Ferragamo Q4 profit climbs 26.6% YOY

Salvatore Ferragamo SpA said its normalized net income for the fourth quarter amounted to 32 euro cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS increased 26.5% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €54.2 million, a gain of 26.6% from €42.8 million in the prior-year period.

The normalized profit margin climbed to 13.3% from 11.4% in the year-earlier period.

Total revenue climbed 9.0% year over year to €409.0 million from €375.2 million, and total operating expenses grew 6.1% from the prior-year period to €317.4 million from €299.2 million.

Reported net income rose 28.4% on an annual basis to €60.4 million, or 36 cents per share, from €47.1 million, or 28 cents per share.

For the year, the company's normalized net income totaled 92 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 97 cents.

EPS rose 10.1% from 84 cents in the prior year.

Normalized net income was €155.8 million, a rise of 10.1% from €141.4 million in the prior year.

Full-year total revenue grew 7.4% from the prior-year period to €1.43 billion from €1.33 billion, and total operating expenses increased 7.2% on an annual basis to €1.16 billion from €1.09 billion.

The company said reported net income rose 10.3% year over year to €172.7 million, or €1.02 per share, in the full year, from €156.6 million, or 93 cents per share.