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Pool swings to profit in Q4

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Pool swings to profit in Q4

Pool Corp. said its fourth-quarter normalized net income amounted to 6 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 1 cents per share.

The per-share result swung to a profit from the prior-year loss of 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.5 million, compared with a loss of $1.8 million in the prior-year period.

The normalized profit margin climbed to 0.6% from negative 0.5% in the year-earlier period.

Total revenue grew 10.3% on an annual basis to $415.1 million from $376.4 million, and total operating expenses increased 8.5% from the prior-year period to $409.1 million from $377.2 million.

Reported net income came to $2.7 million, or 6 cents per share, compared to a loss of $2.1 million, or a loss of 5 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled $2.94 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.83.

EPS rose 18.2% from $2.49 in the prior year.

Normalized net income was $130.3 million, an increase of 15.1% from $113.2 million in the prior year.

Full-year total revenue increased 5.2% on an annual basis to $2.36 billion from $2.25 billion, and total operating expenses grew year over year to $2.15 billion from $2.06 billion.

The company said reported net income grew 15.7% on an annual basis to $128.3 million, or $2.90 per share, in the full year, from $110.9 million, or $2.44 per share.