Lindblad Expeditions Holdings Inc. said its fourth-quarter normalized net income amounted to a loss of 11 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 6 cents per share.
The per-share result swung to a loss from the prior-year profit of 1 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $5.3 million, compared with income of $677,180 in the year-earlier period.
The normalized profit margin dropped to negative 11.3% from 1.5% in the year-earlier period.
Total revenue climbed year over year to $46.5 million from $44.8 million, and total operating expenses grew 12.6% from the prior-year period to $47.0 million from $41.8 million.
Reported net income totaled a loss of $442,110, or a loss of 1 cents per share, compared to income of $1.4 million, or 3 cents per share, in the year-earlier period.
For the year, the company's normalized net income totaled 25 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 38 cents.
EPS declined 20.1% from 31 cents in the prior year.
Normalized net income was $11.2 million, a decline of 28.4% from $15.7 million in the prior year.
Full-year total revenue increased 5.8% from the prior-year period to $210.0 million from $198.5 million, and total operating expenses grew 7.8% year over year to $181.1 million from $168.0 million.
The company said reported net income fell 11.9% on an annual basis to $19.6 million, or 43 cents per share, in the full year, from $22.2 million, or 44 cents per share.