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Hunter Douglas Q4 profit climbs 68.4% YOY

Hunter Douglas NV said its fourth-quarter normalized net income came to $1.48 per share, an increase of 69.2% from 87 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 $51.3 million, an increase of 68.4% from $30.4 million in the year-earlier period.

The normalized profit margin increased to 8.0% from 4.5% in the year-earlier period.

Total revenue decreased 6.1% year over year to $641.2 million from $682.8 million, and total operating expenses decreased 11.2% on an annual basis to $560.1 million from $630.5 million.

Reported net income increased 76.2% from the prior-year period to $47.9 million, or $1.38 per share, from $27.2 million, or 78 cents per share.

For the year, the company's normalized net income totaled $4.07 per share, a gain of 31.0% from $3.11 per share in the prior year.

Normalized net income was $141.6 million, a gain of 31.0% from $108.1 million in the prior year.

Full-year total revenue fell 5.3% from the prior-year period to $2.55 billion from $2.69 billion, and total operating expenses fell 7.5% year over year to $2.31 billion from $2.50 billion.

The company said reported net income grew 25.1% year over year to $156.2 million, or $4.48 per share, in the full year, from $124.9 million, or $3.59 per share.