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Viñedos Emiliana swings to profit in Q4

Viñedos Emiliana SA said its fourth-quarter normalized net income was 14 Chilean centavos per share, compared with a loss of 8 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 88.0 million pesos, compared with a loss of 49.9 million pesos in the year-earlier period.

The normalized profit margin increased to 2.0% from negative 0.9% in the year-earlier period.

Total revenue declined 21.5% year over year to 4.32 billion pesos from 5.50 billion pesos, and total operating expenses declined 18.6% on an annual basis to 4.23 billion pesos from 5.19 billion pesos.

Reported net income grew 36.3% from the prior-year period to 109.0 million pesos, or 17 centavos per share, from 80.0 million pesos, or 13 centavos per share.

For the year, the company's normalized net income totaled 1.51 pesos per share, an increase of 5.6% from 1.43 pesos per share in the prior year.

Normalized net income was 961.9 million pesos, a rise of 5.6% from 910.9 million pesos in the prior year.

Full-year total revenue grew 5.0% from the prior-year period to 21.95 billion pesos from 20.90 billion pesos, and total operating expenses rose year over year to 19.96 billion pesos from 19.24 billion pesos.

The company said reported net income fell 17.6% year over year to 1.13 billion pesos, or 1.78 pesos per share, in the full year, from 1.37 billion pesos, or 2.16 pesos per share.

As of March 28, US$1 was equivalent to 666.63 Chilean pesos.