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Prada profit misses consensus by 19.6% in fiscal Q4

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Prada profit misses consensus by 19.6% in fiscal Q4

Prada SpA said its normalized net income for the fiscal fourth quarter ended Jan. 31 amounted to 5 euro cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

EPS fell 27.9% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €115.1 million, a decrease of 27.9% from €159.7 million in the prior-year period.

The normalized profit margin fell to 11.5% from 15.8% in the year-earlier period.

Total revenue decreased on an annual basis to €999.7 million from €1.01 billion, and total operating expenses increased 6.0% year over year to €794.8 million from €749.7 million.

Reported net income declined 29.7% year over year to €131.4 million, or 5 cents per share, from €186.9 million, or 7 cents per share.

For the year, the company's normalized net income totaled 16 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 18 cents.

EPS declined 27.9% from 22 cents in the prior year.

Normalized net income was €408.8 million, a decline of 27.9% from €566.8 million in the prior year.

Full-year total revenue amounted to €3.55 billion, compared with €3.59 billion in the prior year, and total operating expenses increased 7.6% year over year to €2.85 billion from €2.65 billion.

The company said reported net income fell 28.2% on an annual basis to €450.7 million, or 18 cents per share, in the full year, from €627.8 million, or 25 cents per share.