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Alpargatas posts Q4 profit

Alpargatas SA said its fourth-quarter normalized net income came to 71.6 million reais.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 6.7%.

Total revenue totaled 1.07 billion reais, and total operating expenses totaled 929.8 million reais.

Reported net income came to 100.9 million reais, or 22 centavos per share.

For the year, the company's normalized net income totaled 56 centavos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 77 centavos.

EPS rose 29.2% from 43 centavos in the prior year.

Normalized net income was 259.2 million reais, a gain of 29.2% from 200.6 million reais in the prior year.

Full-year total revenue amounted to 4.05 billion reais, compared with 4.04 billion reais in the prior year, and total operating expenses decreased year over year to 3.56 billion reais from 3.67 billion reais.

The company said reported net income increased 27.8% on an annual basis to 365.4 million reais, or 79 centavos per share, in the full year, from 286.0 million reais, or 62 centavos per share.

As of March 10, US$1 was equivalent to 3.16 reais.