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Park Lawn profit misses consensus by 44.4% in Q4

Park Lawn Corp. said its fourth-quarter normalized net income came to 8 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS fell 8.0% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$454,560, a decline from C$472,410 in the prior-year period.

The normalized profit margin rose to 6.8% from 6.7% in the year-earlier period.

Total revenue decreased year over year to C$6.7 million from C$7.0 million, and total operating expenses decreased 8.0% on an annual basis to C$5.5 million from C$6.0 million.

Reported net income decreased 13.8% on an annual basis to C$474,630, or 8 cents per share, from C$550,840, or 10 cents per share.

For the year, the company's normalized net income totaled 39 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 55 cents.

EPS rose 8.5% from 36 cents in the prior year.

Normalized net income was C$2.3 million, an increase of 23.8% from C$1.8 million in the prior year.

Full-year total revenue rose 18.9% year over year to C$28.2 million from C$23.7 million, and total operating expenses increased 15.1% year over year to C$23.5 million from C$20.4 million.

The company said reported net income increased 31.9% year over year to C$3.0 million, or 51 cents per share, in the full year, from C$2.3 million, or 44 cents per share.