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Brick Brewing profit beats consensus by 94.1% in fiscal Q4

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Brick Brewing profit beats consensus by 94.1% in fiscal Q4

Brick Brewing Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Jan. 31 was C$678,090, a rise from C$223,410 in the prior-year period.

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

The normalized profit margin rose to 6.4% from 2.8% in the year-earlier period.

Total revenue increased 14.6% on an annual basis to C$9.1 million from C$8.0 million, and total operating expenses climbed 7.3% from the prior-year period to C$7.9 million from C$7.4 million.

Reported net income rose from the prior-year period to C$695,850, or 2 cents per share, from C$334,780, or 1 cents per share.

For the year, the company's normalized net income totaled 3 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 4 cents.

EPS rose from 1 cents in the prior year.

Normalized net income was C$1.1 million, a rise from C$454,170 in the prior year.

Full-year total revenue fell from the prior-year period to C$36.3 million from C$37.7 million, and total operating expenses fell 6.0% on an annual basis to C$34.0 million from C$36.2 million.

The company said reported net income increased year over year to C$1.4 million, or 4 cents per share, in the full year, from C$656,250, or 2 cents per share.