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North West Co. Inc. fiscal Q4 profit falls YOY

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North West Co. Inc. fiscal Q4 profit falls YOY

North West Co. Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 amounted to 28 Canadian cents per share, a decline from 29 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$13.6 million, a decrease from C$14.1 million in the year-earlier period.

The normalized profit margin fell to 3.1% from 3.5% in the year-earlier period.

Total revenue increased 7.6% year over year to C$433.5 million from C$402.9 million, and total operating expenses increased 8.4% year over year to C$410.5 million from C$378.5 million.

Reported net income fell on an annual basis to C$15.1 million, or 31 cents per share, from C$15.6 million, or 32 cents per share.

For the year, the company's normalized net income totaled C$1.16 per share, a decrease from C$1.19 per share in the prior year.

Normalized net income was C$56.7 million, a fall from C$57.7 million in the prior year.

Full-year total revenue rose 5.3% on an annual basis to C$1.62 billion from C$1.54 billion, and total operating expenses grew 5.8% year over year to C$1.53 billion from C$1.44 billion.

The company said reported net income declined year over year to C$62.8 million, or C$1.29 per share, in the full year, from C$64.2 million, or C$1.32 per share.