High Liner Foods Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 2 came to 21 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.
EPS decreased year over year from 22 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.4 million, a decline of 5.7% from $6.8 million in the prior-year period.
The normalized profit margin climbed to 2.6% from 2.6% in the year-earlier period.
Total revenue decreased 15.7% on an annual basis to $224.9 million from $266.9 million, and total operating expenses decreased 16.2% on an annual basis to $210.7 million from $251.4 million.
Reported net income grew 26.2% on an annual basis to $7.1 million, or 23 cents per share, from $5.6 million, or 18 cents per share.
For the year, the company's normalized net income totaled 91 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.15.
EPS was 91 cents in the prior year.
Normalized net income was $28.5 million, compared with $28.6 million in the prior year.
Full-year total revenue decreased year over year to $1.00 billion from $1.05 billion, and total operating expenses declined year over year to $939.6 million from $988.3 million.
The company said reported net income fell year over year to $29.7 million, or 95 cents per share, in the full year, from $30.4 million, or 97 cents per share.