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PUMA Q4 loss widens 53.1% YOY

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PUMA Q4 loss widens 53.1% YOY

PUMA SE said its fourth-quarter normalized net income was a loss of 35 euro cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 15 cents per share.

The per-share loss increased 58.3% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of €5.3 million, compared with a loss of €3.4 million in the prior-year period.

The normalized profit margin dropped to negative 0.6% from negative 0.5% in the year-earlier period.

Total revenue grew 17.1% year over year to €878.9 million from €750.7 million, and total operating expenses climbed 17.2% from the prior-year period to €868.8 million from €741.2 million.

Reported net income came to a loss of €4.3 million, or a loss of 30 cents per share, compared to a loss of €4.5 million, or a loss of 29 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled €1.91 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of €2.70.

EPS declined 48.5% from €3.71 in the prior year.

Normalized net income was €28.5 million, a decline of 48.5% from €55.4 million in the prior year.

Full-year total revenue grew 14.0% on an annual basis to €3.39 billion from €2.97 billion, and total operating expenses rose 15.7% on an annual basis to €3.29 billion from €2.85 billion.

The company said reported net income decreased 42.2% year over year to €37.1 million, or €2.48 per share, in the full year, from €64.1 million, or €4.29 per share.