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Carozzi Q4 profit falls YOY

Carozzi SA said its fourth-quarter normalized net income was 13.12 Chilean pesos per share, a decrease of 23.5% from 17.16 pesos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.93 billion pesos, a decrease of 23.5% from 3.83 billion pesos in the prior-year period.

The normalized profit margin dropped to 1.6% from 2.2% in the year-earlier period.

Total revenue climbed 8.0% year over year to 183.91 billion pesos from 170.29 billion pesos, and total operating expenses climbed 5.2% on an annual basis to 163.93 billion pesos from 155.78 billion pesos.

Reported net income increased from the prior-year period to 18.74 billion pesos, or 84.03 pesos per share, from 6.46 billion pesos, or 28.97 pesos per share.

For the year, the company's normalized net income totaled 96.21 pesos per share, a fall from 97.47 pesos per share in the prior year.

Normalized net income was 21.46 billion pesos, a decline from 21.74 billion pesos in the prior year.

Full-year total revenue increased from the prior-year period to 690.68 billion pesos from 658.19 billion pesos, and total operating expenses grew year over year to 614.06 billion pesos from 589.29 billion pesos.

The company said reported net income increased 36.2% on an annual basis to 42.75 billion pesos, or 191.66 pesos per share, in the full year, from 31.40 billion pesos, or 140.76 pesos per share.

As of March 30, US$1 was equivalent to 680.11 Chilean pesos.