AA PLC said its normalized net income for the fiscal fourth quarter ended Jan. 31 came to 2 Great British pence per share, a decrease of 59.4% from 5 pence per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £11.0 million, a decrease of 52.0% from £22.9 million in the year-earlier period.
The normalized profit margin fell to negative 7.7% from 9.3% in the year-earlier period.
Total revenue came to £247.5 million, compared with £245.8 million in the year-earlier period, and total operating expenses grew 7.2% year over year to £123.6 million from £115.3 million.
Reported net income came to a loss of £14.6 million, or a loss of 3 pence per share, compared to income of £35.1 million, or 7 pence per share, in the prior-year period.
For the year, the company's normalized net income totaled 13 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 28 pence.
EPS declined 51.7% from 28 pence in the prior year.
Normalized net income was £70.1 million, a decrease of 46.4% from £130.8 million in the prior year.
Full-year total revenue amounted to £983.5 million, compared with £973.9 million in the prior year, and total operating expenses increased on an annual basis to £621.7 million from £593.0 million.
The company said reported net income decreased 54.8% year over year to £69.3 million, or 13 pence per share, in the full year, from £153.5 million, or 33 pence per share.
