Modine Manufacturing Co. said its normalized net income for the fiscal fourth quarter ended March 31 was 15 cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

In the prior-year period, the per-share result came in at a profit of 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.9 million, compared with $6.9 million in the year-earlier period.

The normalized profit margin climbed to 2.4% from 1.8% in the year-earlier period.

Total revenue declined 7.1% on an annual basis to $363.0 million from $390.6 million, and total operating expenses declined 7.1% from the prior-year period to $349.4 million from $376.1 million.

Reported net income came to a loss of $3.3 million, or a loss of 7 cents per share, compared to income of $118.6 million, or $2.47 per share, in the year-earlier period.

For the year, the company's normalized net income totaled 57 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 66 cents.

EPS declined from 59 cents in the prior year.

Normalized net income was $27.4 million, a fall from $28.3 million in the prior year.

Full-year total revenue grew on an annual basis to $1.50 billion from $1.48 billion, and total operating expenses rose year over year to $1.44 billion from $1.42 billion.

The company said reported net income declined 83.8% year over year to $21.0 million, or 44 cents per share, in the full year, from $129.5 million, or $2.72 per share.