Boston Beer Co. Inc. said its normalized net income for the fiscal fourth quarter ended Dec. 26, 2015, amounted to $1.22 per share, compared with the S&P Capital IQ consensus estimate of $1.14 per share.
EPS fell 16.0% year over year from $1.46.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.3 million, a decrease of 17.6% from $19.7 million in the prior-year period.
The normalized profit margin declined to 7.6% from 9.1% in the year-earlier period.
Total revenue fell year over year to $215.1 million from $217.8 million, and total operating expenses climbed on an annual basis to $188.8 million from $185.6 million.
Reported net income decreased 15.4% on an annual basis to $16.0 million, or $1.21 per share, from $19.0 million, or $1.40 per share.
For the year, the company's normalized net income totaled $7.18 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $7.20.
EPS rose 5.1% from $6.83 in the prior year.
Normalized net income was $97.0 million, a gain of 5.4% from $92.1 million in the prior year.
Full-year total revenue increased 6.3% from the prior-year period to $959.9 million from $903.0 million, and total operating expenses rose 6.5% on an annual basis to $803.5 million from $754.7 million.
The company said reported net income rose 8.5% on an annual basis to $98.0 million, or $7.25 per share, in the full year, from $90.3 million, or $6.69 per share.