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Gentherm Q4 profit climbs 18.1% YOY

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Gentherm Q4 profit climbs 18.1% YOY

Gentherm Inc. said its fourth-quarter normalized net income came to 50 cents per share, compared with the S&P Capital IQ consensus estimate of 58 cents per share.

EPS climbed 17.0% year over year from 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $18.4 million, a gain of 18.1% from $15.6 million in the prior-year period.

The normalized profit margin climbed to 8.6% from 7.6% in the year-earlier period.

Total revenue increased on an annual basis to $212.3 million from $205.2 million, and total operating expenses came to $181.8 million, compared with $180.4 million in the year-earlier period.

Reported net income grew 43.2% on an annual basis to $28.6 million, or 78 cents per share, from $20.0 million, or 55 cents per share.

For the year, the company's normalized net income totaled $2.04 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.46.

EPS rose 23.0% from $1.66 in the prior year.

Normalized net income was $74.6 million, a gain of 24.4% from $59.9 million in the prior year.

Full-year total revenue increased 5.6% from the prior-year period to $856.4 million from $811.3 million, and total operating expenses grew on an annual basis to $734.8 million from $711.8 million.

The company said reported net income grew 35.9% on an annual basis to $95.6 million, or $2.62 per share, in the full year, from $70.3 million, or $1.95 per share.