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Hornbach Holding fiscal Q4 loss widens 21.9% YOY

Hornbach Holding AG & Co. KGaA said its normalized net income for the fiscal fourth quarter ended Feb. 29 came to a loss of 79 euro cents per share, compared with a loss of 65 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 a loss of €12.6 million, compared with a loss of €10.3 million in the year-earlier period.

The normalized profit margin declined to negative 1.7% from negative 1.4% in the year-earlier period.

Total revenue rose 7.6% year over year to €775.0 million from €720.3 million, and total operating expenses grew 7.1% from the prior-year period to €796.4 million from €743.5 million.

Reported net income totaled a loss of €14.4 million, or a loss of 90 cents per share, compared to a loss of €8.4 million, or a loss of 53 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled €3.86 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €4.80.

EPS declined 12.6% from €4.42 in the prior year.

Normalized net income was €61.8 million, a decline of 12.6% from €70.7 million in the prior year.

Full-year total revenue grew 5.1% on an annual basis to €3.76 billion from €3.57 billion, and total operating expenses rose 5.8% year over year to €3.60 billion from €3.41 billion.

The company said reported net income declined 10.7% year over year to €80.6 million, or €5.04 per share, in the full year, from €90.3 million, or €5.64 per share.