MARR S.p.A. said its normalized net income for the fourth quarter was 12 euro cents per share, a gain of 8.3% from 11 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €7.9 million, an increase of 8.3% from €7.3 million in the prior-year period.
The normalized profit margin climbed to 2.5% from 2.3% in the year-earlier period.
Total revenue came to €317.6 million, compared with €315.3 million in the year-earlier period, and total operating expenses came to €304.4 million, compared with €302.5 million in the year-earlier period.
Reported net income rose 18.2% from the prior-year period to €8.6 million, or 13 cents per share, from €7.3 million, or 11 cents per share.
For the year, the company's normalized net income totaled 77 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 85 cents.
EPS rose 7.1% from 72 cents in the prior year.
Normalized net income was €51.5 million, a rise of 7.1% from €48.0 million in the prior year.
Full-year total revenue increased on an annual basis to €1.44 billion from €1.41 billion, and total operating expenses increased on an annual basis to €1.35 billion from €1.32 billion.
The company said reported net income rose 13.0% on an annual basis to €57.9 million, or 87 cents per share, in the full year, from €51.2 million, or 77 cents per share.