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Rapala VMC swings to loss in Q4

Rapala VMC Corp. said its normalized net income for the fourth quarter came to a loss of €87,500, compared with income of €912,500 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 0.1% from 1.5% in the year-earlier period.

Total revenue declined year over year to €60.1 million from €61.9 million, and total operating expenses declined 5.0% from the prior-year period to €61.4 million from €64.6 million.

Reported net income came to a loss of €77,780, or a loss of 0 cents per share, compared to a loss of €258,560, or a loss of 1 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 20 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 23 cents.

EPS declined 18.1% from 24 cents in the prior year.

Normalized net income was €7.6 million, a fall of 18.4% from €9.3 million in the prior year.

Full-year total revenue grew from the prior-year period to €278.7 million from €273.6 million, and total operating expenses grew on an annual basis to €259.9 million from €255.0 million.

The company said reported net income decreased 29.4% year over year to €6.5 million, or 17 cents per share, in the full year, from €9.2 million, or 24 cents per share.