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Marisa Lojas profit misses consensus by 44.2% in Q4

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Marisa Lojas profit misses consensus by 44.2% in Q4

Marisa Lojas S.A. said its fourth-quarter normalized net income came to 6 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 10 centavos per share.

EPS declined 75.1% year over year from 22 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.3 million reais, a decrease of 75.1% from 45.3 million reais in the prior-year period.

The normalized profit margin declined to 1.2% from 4.3% in the year-earlier period.

Total revenue fell 10.3% on an annual basis to 948.4 million reais from 1.06 billion reais, and total operating expenses declined 7.1% on an annual basis to 887.7 million reais from 955.9 million reais.

Reported net income fell 61.8% from the prior-year period to 16.7 million reais, or 8 centavos per share, from 43.8 million reais, or 21 centavos per share.

For the year, the company's normalized net income totaled a loss of 12 centavos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 12 centavos.

EPS was 17 centavos in the prior year.

Normalized net income was a loss of 23.0 million reais, compared with income of 35.3 million reais in the prior year.

Full-year total revenue declined 5.4% on an annual basis to 3.16 billion reais from 3.34 billion reais, and total operating expenses decreased on an annual basis to 3.05 billion reais from 3.15 billion reais.

The company said reported net income came to a loss of 35.8 million reais, or a loss of 19 centavos per share, in the full year, compared with income of 51.1 million reais, or 25 centavos per share, the prior year.

As of Feb. 26, US$1 was equivalent to 3.98 reais.