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Vista Outdoor profit misses consensus by 43.9% in fiscal Q4

Vista Outdoor Inc. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 33 cents per share, compared with the S&P Capital IQ consensus estimate of 59 cents per share.

EPS decreased 63.6% year over year from 91 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $21.2 million, a decline of 63.7% from $58.3 million in the prior-year period.

The normalized profit margin fell to 4.4% from 10.3% in the year-earlier period.

Total revenue fell 14.1% year over year to $485.4 million from $565.2 million, and total operating expenses decreased year over year to $446.7 million from $464.1 million.

Reported net income decreased 66.2% on an annual basis to $16.2 million, or 25 cents per share, from $47.9 million, or 75 cents per share.

For the year, the company's normalized net income totaled $2.02 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.41.

EPS declined 5.5% from $2.14 in the prior year.

Normalized net income was $128.9 million, a fall of 5.5% from $136.5 million in the prior year.

Full-year total revenue grew 11.2% from the prior-year period to $2.08 billion from $1.87 billion, and total operating expenses increased 12.6% on an annual basis to $1.85 billion from $1.64 billion.

The company said reported net income fell 40.2% on an annual basis to $79.8 million, or $1.25 per share, in the full year, from $133.5 million, or $2.09 per share.