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Uni-Select profit misses consensus by 20.5% in Q4

Uni-Select Inc. said its normalized net income for the fourth quarter came to 22 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

EPS climbed 11.3% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $9.5 million, an increase of 12.1% from $8.5 million in the prior-year period.

The normalized profit margin rose to 3.7% from 2.0% in the year-earlier period.

Total revenue declined 39.3% year over year to $259.2 million from $427.2 million, and total operating expenses decreased 40.9% year over year to $242.7 million from $410.4 million.

Reported net income grew 48.6% from the prior-year period to $13.9 million, or 32 cents per share, from $9.3 million, or 22 cents per share.

For the year, the company's normalized net income totaled $1.08 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.30.

EPS rose 21.1% from 89 cents in the prior year.

Normalized net income was $46.2 million, a rise of 21.5% from $38.0 million in the prior year.

Full-year total revenue decreased 24.0% year over year to $1.36 billion from $1.78 billion, and total operating expenses fell 25.5% year over year to $1.28 billion from $1.71 billion.

The company said reported net income totaled a loss of $40.2 million, or a loss of 94 cents per share, in the full year, compared with income of $50.1 million, or $1.18 per share, the prior year.