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Coty profit beats consensus by 23.2% in fiscal Q4

Coty Inc. said its normalized net income for the fiscal fourth quarter ended June 30 was 7 cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

EPS climbed 30.8% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $23.6 million, an increase of 19.9% from $19.7 million in the year-earlier period.

The normalized profit margin rose to 2.2% from 1.9% in the year-earlier period.

Total revenue grew 5.5% year over year to $1.08 billion from $1.02 billion, and total operating expenses rose on an annual basis to $1.00 billion from $963.7 million.

Reported net income came to a loss of $33.3 million, or a loss of 10 cents per share, compared to income of $19.4 million, or 5 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 71 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.10.

EPS declined from 72 cents in the prior year.

Normalized net income was $250.4 million, a decline from $259.5 million in the prior year.

Full-year total revenue decreased from the prior-year period to $4.35 billion from $4.40 billion, and total operating expenses decreased on an annual basis to $3.81 billion from $3.86 billion.

The company said reported net income fell 32.9% on an annual basis to $155.8 million, or 44 cents per share, in the full year, from $232.3 million, or 64 cents per share.