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ZEAL Network SE Q4 profit falls YOY

ZEAL Network SE said its fourth-quarter normalized net income amounted to 17 euro cents per share, a decline of 63.5% from 45 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.4 million, a decrease of 61.2% from €3.5 million in the prior-year period.

The normalized profit margin declined to 3.7% from 10.0% in the year-earlier period.

Total revenue rose 5.1% year over year to €37.1 million from €35.3 million, and total operating expenses decreased year over year to €26.3 million from €27.5 million.

Reported net income totaled a loss of €6.8 million, or a loss of 82 cents per share, compared to income of €4.3 million, or 55 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled €1.47 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €2.99.

EPS rose 57.9% from 93 cents in the prior year.

Normalized net income was €12.3 million, an increase of 57.9% from €7.8 million in the prior year.

Full-year total revenue fell 36.8% on an annual basis to €89.0 million from €140.7 million, and total operating expenses declined 22.1% on an annual basis to €98.2 million from €126.1 million.

The company said reported net income fell 74.7% on an annual basis to €1.3 million, or 16 cents per share, in the full year, from €5.3 million, or 63 cents per share.