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.
