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Kid ASA Q4 profit climbs 9.5% YOY

Kid ASA said its fourth-quarter normalized net income came to 1.40 Norwegian kroner per share, a decline from 1.42 kroner per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 54.3 million kroner, an increase of 9.5% from 49.6 million kroner in the prior-year period.

The normalized profit margin dropped to 9.0% from 12.4% in the year-earlier period.

Total revenue grew 8.5% year over year to 433.1 million kroner from 399.3 million kroner, and total operating expenses rose 18.4% on an annual basis to 377.7 million kroner from 319.0 million kroner.

Reported net income increased 75.6% on an annual basis to 92.2 million kroner, or 2.38 kroner per share, from 52.5 million kroner, or 1.50 kroner per share.

For the year, the company's normalized net income totaled 2.32 kroner per share, a decline from 2.35 kroner per share in the prior year.

Normalized net income was 83.3 million kroner, an increase from 82.3 million kroner in the prior year.

Full-year total revenue increased from the prior-year period to 1.19 billion kroner from 1.14 billion kroner, and total operating expenses grew 8.9% on an annual basis to 1.07 billion kroner from 978.7 million kroner.

The company said reported net income grew 40.7% on an annual basis to 124.1 million kroner, or 3.45 kroner per share, in the full year, from 88.2 million kroner, or 2.52 kroner per share.

As of April 13, US$1 was equivalent to 8.22 Norwegian kroner.