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MTY Food fiscal Q4 profit climbs 21.4% YOY

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MTY Food fiscal Q4 profit climbs 21.4% YOY

MTY Food Group Inc. said its normalized net income for the fiscal fourth quarter ended Nov. 30, 2015, was 37 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 38 cents per share.

EPS rose 18.6% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$7.2 million, a gain of 21.4% from C$5.9 million in the prior-year period.

The normalized profit margin dropped to 18.2% from 19.7% in the year-earlier period.

Total revenue rose 31.9% on an annual basis to C$39.5 million from C$29.9 million, and total operating expenses increased 36.7% on an annual basis to C$28.0 million from C$20.5 million.

Reported net income fell 41.7% from the prior-year period to C$3.1 million, or 16 cents per share, from C$5.3 million, or 28 cents per share.

For the year, the company's normalized net income totaled C$1.37 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of C$1.59.

EPS rose 18.1% from C$1.16 in the prior year.

Normalized net income was C$26.2 million, a gain of 18.1% from C$22.1 million in the prior year.

Full-year total revenue rose 26.1% on an annual basis to C$145.2 million from C$115.2 million, and total operating expenses increased 29.2% year over year to C$102.8 million from C$79.6 million.

The company said reported net income grew year over year to C$26.0 million, or C$1.36 per share, in the full year, from C$25.2 million, or C$1.32 per share.