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Saf-Holland Q4 profit climbs 20.4% YOY

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Saf-Holland Q4 profit climbs 20.4% YOY

Saf-Holland SA said its normalized net income for the fourth quarter was 22 euro cents per share, a gain of 20.2% from 18 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €11.5 million, an increase of 20.4% from €9.6 million in the prior-year period.

The normalized profit margin climbed to 4.7% from 4.0% in the year-earlier period.

Total revenue increased on an annual basis to €243.2 million from €236.2 million, and total operating expenses grew on an annual basis to €224.9 million from €220.6 million.

Reported net income rose from the prior-year period to €9.9 million, or 18 cents per share, from €4.3 million, or 8 cents per share.

For the year, the company's normalized net income totaled 95 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €1.21.

EPS rose 25.8% from 76 cents in the prior year.

Normalized net income was €50.9 million, a rise of 40.7% from €36.2 million in the prior year.

Full-year total revenue increased 10.5% on an annual basis to €1.06 billion from €959.7 million, and total operating expenses rose 9.0% on an annual basis to €978.5 million from €898.1 million.

The company said reported net income rose 59.4% on an annual basis to €52.8 million, or 99 cents per share, in the full year, from €33.1 million, or 69 cents per share.