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.