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SkiStar fiscal Q4 loss widens 59.2% YOY

SkiStar AB said its normalized net income for the fiscal fourth quarter ended Aug. 31 was a loss of 2.84 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of a loss of 3.08 kronor per share.

The per-share loss increased 59.2% year over year from 1.78 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 111.4 million kronor, compared with a loss of 69.9 million kronor in the prior-year period.

The normalized profit margin fell to negative 143.4% from negative 82.5% in the year-earlier period.

Total revenue decreased year over year to 81.8 million kronor from 84.8 million kronor, and total operating expenses grew 32.1% on an annual basis to 233.5 million kronor from 176.7 million kronor.

Reported net income came to a loss of 121.9 million kronor, or a loss of 3.11 kronor per share, compared to a loss of 126.2 million kronor, or a loss of 3.22 kronor per share, in the year-earlier period.

For the year, the company's normalized net income totaled 4.84 kronor per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 6.37 kronor.

EPS rose 40.0% from 3.46 kronor in the prior year.

Normalized net income was 189.7 million kronor, a rise of 40.0% from 135.5 million kronor in the prior year.

Full-year total revenue grew 8.5% year over year to 1.90 billion kronor from 1.75 billion kronor, and total operating expenses increased year over year to 1.55 billion kronor from 1.48 billion kronor.

The company said reported net income rose 53.1% on an annual basis to 248.5 million kronor, or 6.34 kronor per share, in the full year, from 162.2 million kronor, or 4.14 kronor per share.

As of Nov. 18, US$1 was equivalent to 8.74 Swedish kronor.