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Cooper-Standard Q4 profit climbs YOY

Cooper-Standard Holdings Inc. said its fourth-quarter normalized net income was $1.68 per share, compared with the S&P Capital IQ consensus estimate of $1.73 per share.

EPS increased year over year from 37 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $31.3 million, an increase from $5.9 million in the prior-year period.

The normalized profit margin rose to 3.8% from 0.8% in the year-earlier period.

Total revenue climbed 11.3% year over year to $854.4 million from $767.9 million, and total operating expenses increased 6.7% year over year to $795.5 million from $745.7 million.

Reported net income totaled $21.8 million, or $1.16 per share, compared to a loss of $12.9 million, or a loss of 79 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled $7.00 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $7.71.

EPS rose 43.9% from $4.87 in the prior year.

Normalized net income was $129.0 million, a rise of 48.1% from $87.1 million in the prior year.

Full-year total revenue grew on an annual basis to $3.34 billion from $3.24 billion, and total operating expenses increased year over year to $3.10 billion from $3.05 billion.

The company said reported net income rose year over year to $111.9 million, or $6.08 per share, in the full year, from $42.8 million, or $2.39 per share.