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Lassonde Industries profit beats consensus by 66.9% in Q4

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Lassonde Industries profit beats consensus by 66.9% in Q4

Lassonde Industries Inc. said its normalized net income for the fourth quarter came to C$2.57 per share, compared with the S&P Capital IQ consensus estimate of C$1.54 per share.

In the prior-year period, the per-share result came in at a profit of C$2.59.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$18.0 million, a decrease from C$18.2 million in the year-earlier period.

The normalized profit margin dropped to 4.5% from 5.2% in the year-earlier period.

Total revenue climbed 14.9% year over year to C$401.5 million from C$349.4 million, and total operating expenses rose 17.1% from the prior-year period to C$365.2 million from C$311.9 million.

Reported net income grew 23.9% on an annual basis to C$20.2 million, or C$2.89 per share, from C$16.3 million, or C$2.33 per share.

For the year, the company's normalized net income totaled C$7.28 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of C$7.65.

EPS rose 18.5% from C$6.15 in the prior year.

Normalized net income was C$50.9 million, a gain of 18.5% from C$43.0 million in the prior year.

Full-year total revenue increased 22.7% on an annual basis to C$1.45 billion from C$1.18 billion, and total operating expenses increased 23.0% on an annual basis to C$1.34 billion from C$1.09 billion.

The company said reported net income rose 25.9% year over year to C$57.0 million, or C$8.15 per share, in the full year, from C$45.2 million, or C$6.47 per share.