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IMC SA Q4 loss narrows YOY

IMC SA said its fourth-quarter normalized net income was a loss of 12 cents per share, compared with a loss of 64 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.8 million, compared with a loss of $20.0 million in the prior-year period.

The normalized profit margin rose to negative 15.0% from negative 49.6% in the year-earlier period.

Total revenue came to $40.2 million, compared with $40.3 million in the prior-year period, and total operating expenses fell 19.3% on an annual basis to $33.5 million from $41.6 million.

Reported net income totaled a loss of $6.3 million, or a loss of 20 cents per share, compared to a loss of $32.3 million, or a loss of $1.03 per share, in the year-earlier period.

For the year, the company's normalized net income totaled 36 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 40 cents.

EPS was a loss of 86 cents in the prior year.

Normalized net income was $11.2 million, compared with a loss of $26.9 million in the prior year.

Full-year total revenue grew from the prior-year period to $140.4 million from $138.3 million, and total operating expenses decreased 12.2% year over year to $79.2 million from $90.2 million.

The company said reported net income came to $14.8 million, or 47 cents per share, in the full year, compared with a loss of $46.5 million, or a loss of $1.49 per share, the prior year.