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Camanchaca Q4 profit falls YOY

Compañía Pesquera Camanchaca SA said its normalized net income for the fourth quarter was $736,750, a decrease of 92.6% from $10.0 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 0.6% from 7.0% in the year-earlier period.

Total revenue fell 15.6% year over year to $120.8 million from $143.2 million, and total operating expenses fell year over year to $119.3 million from $124.5 million.

Reported net income rose on an annual basis to $3.7 million, or 0 cents per share, from $985,000, or 0 cents per share.

For the year, the company's normalized net income totaled $933,380, a fall of 91.2% from $10.6 million in the prior year.

Full-year total revenue fell 11.5% on an annual basis to $439.2 million from $496.4 million, and total operating expenses decreased 8.5% on an annual basis to $430.0 million from $469.9 million.

The company said reported net income totaled a loss of $9.0 million, or a loss of 0 cents per share, in the full year, compared with income of $11.1 million, or 0 cents per share, the prior year.