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Pankl Racing Q4 profit climbs 43.6% YOY

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Pankl Racing Q4 profit climbs 43.6% YOY

Pankl Racing Systems AG said its fourth-quarter normalized net income came to 37 euro cents per share, an increase of 43.6% from 26 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 €1.2 million, an increase of 43.6% from €820,500 in the prior-year period.

The normalized profit margin climbed to 2.3% from 2.0% in the year-earlier period.

Total revenue grew 8.7% on an annual basis to €44.1 million from €40.5 million, and total operating expenses grew 10.1% from the prior-year period to €41.9 million from €38.0 million.

Reported net income rose from the prior-year period to €2.9 million, or 91 cents per share, from €1.2 million, or 38 cents per share.

For the year, the company's normalized net income totaled €1.58 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €1.88.

EPS rose 5.1% from €1.51 in the prior year.

Normalized net income was €5.0 million, a rise of 5.1% from €4.7 million in the prior year.

Full-year total revenue grew 5.2% from the prior-year period to €173.6 million from €165.0 million, and total operating expenses rose 6.7% on an annual basis to €163.4 million from €153.1 million.

The company said reported net income grew 24.6% year over year to €7.7 million, or €2.43 per share, in the full year, from €6.1 million, or €1.95 per share.