SHW AG said its normalized net income for the fourth quarter was 31 euro cents per share, compared with the S&P Capital IQ consensus estimate of 56 cents per share.

EPS decreased 46.2% year over year from 58 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €2.0 million, a decrease of 40.8% from €3.4 million in the prior-year period.

The normalized profit margin fell to 2.5% from 3.1% in the year-earlier period.

Total revenue declined year over year to €105.0 million from €108.6 million, and total operating expenses fell on an annual basis to €101.9 million from €103.1 million.

Reported net income totaled €2.0 million, or 31 cents per share, compared to a loss of €308,000, or a loss of 5 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled €1.97 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €2.38.

EPS declined 10.2% from €2.19 in the prior year.

Normalized net income was €12.5 million, a decline from €12.8 million in the prior year.

Full-year total revenue increased 7.8% on an annual basis to €463.5 million from €430.0 million, and total operating expenses rose 8.7% on an annual basis to €444.1 million from €408.4 million.

The company said reported net income grew 34.4% year over year to €14.4 million, or €2.26 per share, in the full year, from €10.7 million, or €1.83 per share.