Apetit Oyj said its fourth-quarter normalized net income was 59 euro cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS rose 36.8% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €3.6 million, a gain of 36.2% from €2.7 million in the year-earlier period.

The normalized profit margin increased to 3.2% from 2.2% in the year-earlier period.

Total revenue decreased 5.7% on an annual basis to €113.8 million from €120.7 million, and total operating expenses decreased 7.7% on an annual basis to €108.2 million from €117.2 million.

Reported net income declined 37.1% on an annual basis to €2.2 million, or 36 cents per share, from €3.5 million, or 57 cents per share.

For the year, the company's normalized net income totaled €12,500, compared with income of €2.2 million in the prior year.

Full-year total revenue fell year over year to €380.8 million from €384.7 million, and total operating expenses came to €379.3 million, compared with €382.4 million in the year-earlier period.

The company said reported net income totaled a loss of €4.3 million, or a loss of 69 cents per share, in the full year, compared with a loss of €8.0 million, or a loss of €1.29 per share, the prior year.