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Geox Q4 loss narrows YOY

Geox SpA said its normalized net income for the fourth quarter amounted to a loss of 1 euro cents per share, compared with a loss of 2 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 a loss of €4.3 million, compared with a loss of €7.4 million in the prior-year period.

The normalized profit margin climbed to negative 2.6% from negative 4.7% in the year-earlier period.

Total revenue grew 6.1% on an annual basis to €165.4 million from €155.9 million, and total operating expenses grew on an annual basis to €171.7 million from €166.6 million.

Reported net income came to a loss of €6.8 million, or a loss of 2 cents per share, compared to a loss of €7.1 million, or a loss of 2 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled €11.9 million, compared with a loss of €-903,130 in the prior year.

Full-year total revenue grew 6.1% on an annual basis to €874.3 million from €824.2 million, and total operating expenses grew on an annual basis to €849.4 million from €819.4 million.

The company said reported net income came to €10.4 million, or 4 cents per share, in the full year, compared with a loss of €2.6 million, or a loss of 1 cents per share, the prior year.