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Suominen profit misses consensus by 49.6% in Q4

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Suominen profit misses consensus by 49.6% in Q4

Suominen Oyj said its fourth-quarter normalized net income was 5 euro cents per share, compared with the S&P Capital IQ consensus estimate of 10 cents per share.

EPS declined 45.6% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €1.9 million, a decrease of 56.2% from €4.4 million in the year-earlier period.

The normalized profit margin dropped to 1.8% from 4.2% in the year-earlier period.

Total revenue totaled €104.2 million, compared with €104.8 million in the year-earlier period, and total operating expenses came to €99.2 million, compared with €98.5 million in the prior-year period.

Reported net income decreased 56.9% year over year to €2.4 million, or 2 cents per share, from €5.5 million, or 8 cents per share.

For the year, the company's normalized net income totaled 28 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 40 cents.

EPS rose 20.8% from 24 cents in the prior year.

Normalized net income was €16.6 million, a gain of 23.4% from €13.4 million in the prior year.

Full-year total revenue rose 10.5% from the prior-year period to €444.0 million from €401.8 million, and total operating expenses increased 9.9% year over year to €412.1 million from €374.8 million.

The company said reported net income increased 60.2% on an annual basis to €17.5 million, or 30 cents per share, in the full year, from €10.9 million, or 19 cents per share.