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Housewares International profit holds mostly steady YOY in fiscal H2

Housewares International Ltd. said its normalized net income for the fiscal second half ended June 30 came to 12 Australian cents per share, compared with 12 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$15.7 million, compared with A$15.6 million in the prior-year period.

Total revenue increased year over year to A$233.1 million from A$230.3 million, and total operating expenses totaled A$206.5 million, compared with A$205.0 million in the year-earlier period.

Reported net income fell year over year to A$17.0 million, or 13 cents per share, from A$17.6 million, or 14 cents per share.

For the year, the company's normalized net income totaled 33 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 37 cents.

EPS declined from 34 cents in the prior year.

Normalized net income was A$42.3 million, a decline from A$43.7 million in the prior year.

Full-year total revenue fell from the prior-year period to A$527.0 million from A$541.6 million, and total operating expenses fell year over year to A$457.3 million from A$471.4 million.

The company said reported net income fell on an annual basis to A$46.7 million, or 36 cents per share, in the full year, from A$48.8 million, or 37 cents per share.