Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. said its normalized net income for the fourth quarter came to 91 agorot per share, compared with the S&P Capital IQ consensus estimate of 1.60 shekels per share.

EPS declined 11.2% year over year from 1.02 shekels.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.2 million shekels, a decrease of 11.2% from 13.7 million shekels in the prior-year period.

The normalized profit margin dropped to 1.4% from 1.6% in the year-earlier period.

Total revenue grew 15.7% year over year to 988.7 million shekels from 854.7 million shekels, and total operating expenses climbed 16.7% from the prior-year period to 970.0 million shekels from 831.5 million shekels.

Reported net income decreased 15.2% on an annual basis to 16.0 million shekels, or 1.19 shekels per share, from 18.9 million shekels, or 1.40 shekels per share.

For the year, the company's normalized net income totaled 4.56 shekels per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 5.87 shekels.

EPS declined 13.7% from 5.29 shekels in the prior year.

Normalized net income was 61.5 million shekels, a fall of 13.7% from 71.2 million shekels in the prior year.

Full-year total revenue rose 16.8% year over year to 3.98 billion shekels from 3.41 billion shekels, and total operating expenses grew 17.8% on an annual basis to 3.89 billion shekels from 3.30 billion shekels.

The company said reported net income fell 20.3% year over year to 74.3 million shekels, or 5.51 shekels per share, in the full year, from 93.2 million shekels, or 6.91 shekels per share.

As of March 29, US$1 was equivalent to 3.82 shekels.