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Alpargatas profit misses consensus by 51.1% in Q4

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Alpargatas profit misses consensus by 51.1% in Q4

Alpargatas SA said its fourth-quarter normalized net income came to 34.0 million reais.

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

Total revenue totaled 1.13 billion reais, and total operating expenses totaled 1.05 billion reais.

Reported net income came to 55.4 million reais, or 12 centavos per share.

For the year, the company's normalized net income totaled 44 centavos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 71 centavos.

EPS rose 13.1% from 39 centavos in the prior year.

Normalized net income was 203.0 million reais, an increase of 13.1% from 179.5 million reais in the prior year.

Full-year total revenue grew 16.6% on an annual basis to 4.13 billion reais from 3.54 billion reais, and total operating expenses grew 17.4% on an annual basis to 3.75 billion reais from 3.20 billion reais.

The company said reported net income totaled 287.0 million reais, or 62 centavos per share, in the full year, compared with 285.0 million reais, or 61 centavos per share, the prior year.

As of March 4, US$1 was equivalent to 3.74 reais.