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Shiloh Industries swings to loss in fiscal Q4

Shiloh Industries Inc. said its normalized net income for the fiscal fourth quarter ended Oct. 31, 2015, was a loss of 8 cents per share, compared with 18 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.3 million, compared with income of $3.1 million in the year-earlier period.

The normalized profit margin fell to negative 0.7% from 1.1% in the year-earlier period.

Total revenue grew 10.0% on an annual basis to $296.9 million from $269.8 million, and total operating expenses rose 11.6% on an annual basis to $294.6 million from $263.9 million.

Reported net income came to a loss of $2.4 million, or a loss of 15 cents per share, compared to income of $933,250, or 5 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 52 cents per share, a fall of 27.0% from 72 cents per share in the prior year.

Normalized net income was $9.0 million, a fall of 26.6% from $12.3 million in the prior year.

Full-year total revenue grew 33.3% year over year to $1.11 billion from $832.1 million, and total operating expenses grew 34.2% year over year to $1.08 billion from $808.2 million.

The company said reported net income fell 58.4% on an annual basis to $8.3 million, or 48 cents per share, in the full year, from $20.0 million, or $1.16 per share.