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Olvi Q4 profit climbs YOY

Olvi Oyj said its normalized net income for the fourth quarter amounted to 17 euro cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

EPS climbed year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €3.6 million, a gain from €608,000 in the prior-year period.

The normalized profit margin rose to 5.2% from 0.9% in the year-earlier period.

Total revenue grew on an annual basis to €68.9 million from €66.4 million, and total operating expenses rose from the prior-year period to €62.8 million from €61.8 million.

Reported net income grew 38.2% on an annual basis to €5.2 million, or 24 cents per share, from €3.7 million, or 18 cents per share.

For the year, the company's normalized net income totaled 81 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 99 cents.

EPS declined 28.4% from €1.13 in the prior year.

Normalized net income was €16.7 million, a decline of 28.4% from €23.4 million in the prior year.

Full-year total revenue decreased year over year to €310.6 million from €320.9 million, and total operating expenses decreased on an annual basis to €272.6 million from €279.8 million.

The company said reported net income declined 31.2% on an annual basis to €22.4 million, or €1.08 per share, in the full year, from €32.6 million, or €1.57 per share.