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ElringKlinger profit misses consensus by 28.7% in Q4

ElringKlinger AG said its normalized net income for the fourth quarter was 21 euro cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS fell 14.9% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €13.7 million, a decrease of 13.7% from €15.9 million in the prior-year period.

The normalized profit margin fell to 3.5% from 4.7% in the year-earlier period.

Total revenue climbed 14.4% year over year to €390.0 million from €340.9 million, and total operating expenses grew 16.6% year over year to €370.7 million from €317.9 million.

Reported net income increased 32.7% from the prior-year period to €22.4 million, or 35 cents per share, from €16.9 million, or 27 cents per share.

For the year, the company's normalized net income totaled €1.16 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €1.37.

EPS declined 17.5% from €1.41 in the prior year.

Normalized net income was €73.7 million, a decrease of 17.5% from €89.3 million in the prior year.

Full-year total revenue rose 13.7% year over year to €1.51 billion from €1.33 billion, and total operating expenses increased 17.1% year over year to €1.38 billion from €1.18 billion.

The company said reported net income declined 13.4% on an annual basis to €91.6 million, or €1.45 per share, in the full year, from €105.7 million, or €1.67 per share.