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Advance Auto Parts fiscal Q4 profit falls 25.7% YOY

Advance Auto Parts Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 2 was $1.13 per share, compared with the S&P Capital IQ consensus estimate of $1.20 per share.

EPS decreased 26.1% year over year from $1.53.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $83.3 million, a decrease of 25.7% from $112.2 million in the prior-year period.

The normalized profit margin declined to 4.4% from 5.0% in the year-earlier period.

Total revenue decreased 9.1% on an annual basis to $2.03 billion from $2.24 billion, and total operating expenses fell 7.8% year over year to $1.88 billion from $2.04 billion.

Reported net income declined 35.2% from the prior-year period to $54.8 million, or 74 cents per share, from $84.6 million, or $1.15 per share.

For the year, the company's normalized net income totaled $7.55 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $7.82.

EPS rose from $7.45 in the prior year.

Normalized net income was $556.9 million, a rise from $547.2 million in the prior year.

Full-year total revenue fell from the prior-year period to $9.74 billion from $9.84 billion, and total operating expenses decreased year over year to $8.77 billion from $8.90 billion.

The company said reported net income declined on an annual basis to $471.9 million, or $6.40 per share, in the full year, from $492.6 million, or $6.71 per share.