Viscofan SA said its fourth-quarter normalized net income was 48 euro cents per share, compared with the S&P Capital IQ consensus estimate of 64 cents per share.

EPS fell year over year from 48 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €22.3 million, a decline from €22.5 million in the prior-year period.

The normalized profit margin dropped to 11.9% from 12.3% in the year-earlier period.

Total revenue increased on an annual basis to €186.9 million from €182.4 million, and total operating expenses grew year over year to €149.5 million from €146.2 million.

Reported net income rose 17.6% on an annual basis to €33.0 million, or 71 cents per share, from €28.1 million, or 60 cents per share.

For the year, the company's normalized net income totaled €1.99 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €2.51.

EPS rose 10.4% from €1.81 in the prior year.

Normalized net income was €92.9 million, a rise of 10.4% from €84.1 million in the prior year.

Full-year total revenue grew 7.9% on an annual basis to €745.7 million from €691.3 million, and total operating expenses increased 6.1% year over year to €589.5 million from €555.8 million.

The company said reported net income increased 15.4% year over year to €119.6 million, or €2.57 per share, in the full year, from €103.6 million, or €2.22 per share.