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Companhia Brasileira de Distribuiçí£o Q4 profit falls YOY

Companhia Brasileira de Distribuição said its fourth-quarter normalized net income amounted to 1.63 reais per share, a decrease of 27.9% from 2.27 reais per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 439.8 million reais, a decrease of 26.9% from 601.3 million reais in the year-earlier period.

Total revenue totaled 19.71 billion reais, compared with 19.55 billion reais in the prior-year period, and total operating expenses rose 5.7% year over year to 19.10 billion reais from 18.07 billion reais.

Reported net income declined 98.6% year over year to 6.0 million reais, or 2 centavos per share, from 422.0 million reais, or 1.59 reais per share.

For the year, the company's normalized net income totaled 3.56 reais per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 2.25 reais.

EPS declined 30.0% from 5.09 reais in the prior year.

Normalized net income was 947.5 million reais, a decrease of 29.7% from 1.35 billion reais in the prior year.

Full-year total revenue grew 5.7% year over year to 69.11 billion reais from 65.41 billion reais, and total operating expenses increased 9.3% year over year to 66.97 billion reais from 61.25 billion reais.

The company said reported net income decreased 79.2% year over year to 251.0 million reais, or 94 centavos per share, in the full year, from 1.21 billion reais, or 4.55 reais per share.

As of Feb. 26, US$1 was equivalent to 3.98 reais.