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Fiskars profit misses consensus by 55.1% in Q4

Fiskars Oyj Abp said its normalized net income for the fourth quarter came to 7 euro cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

EPS fell 45.9% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €5.5 million, a decrease of 45.9% from €10.2 million in the prior-year period.

The normalized profit margin fell to 1.5% from 5.0% in the year-earlier period.

Total revenue rose 63.1% on an annual basis to €332.8 million from €204.0 million, and total operating expenses rose 62.6% year over year to €317.2 million from €195.1 million.

Reported net income fell 91.4% from the prior-year period to €61.9 million, or 76 cents per share, from €718.1 million, or €8.77 per share.

For the year, the company's normalized net income totaled 60 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 71 cents.

EPS declined 9.0% from 66 cents in the prior year.

Normalized net income was €49.3 million, a decrease of 9.0% from €54.2 million in the prior year.

Full-year total revenue increased 44.0% from the prior-year period to €1.10 billion from €767.5 million, and total operating expenses rose 45.3% on an annual basis to €1.04 billion from €718.3 million.

The company said reported net income declined 89.0% year over year to €85.1 million, or €1.04 per share, in the full year, from €773.1 million, or €9.44 per share.