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Primo Water Q4 Loss Narrows

Primo Water Corp. (PRMW: Quote) Thursday reported fourth-quarter net loss of $7.0 million or $0.30 per share, compared to $10.7 million or $0.96 per share in the same period last year.

Adjusted net loss for the quarter was $2.5 million or $0.10 per share, compared to $1.4 million or $0.13 per share last year. On average, analysts polled by Thomson Reuters expected loss of $0.08 per share for the quarter. Analysts' estimates typically exclude one-time items.

Total sales surged 73.2 percent to $22.0 million from $12.7 million last year, driven mainly by water and dispenser sales. Wall Street analysts on a consensus estimated revenues of $22.08 million for the quarter.

Looking forward to the first quarter, the company expects loss in a range of $0.14 to $0.16 per share, adjusted loss of $0.07 to $0.09 per share, and net sales of $19.7 million to $21.4 million. Analysts currently expect earnings of $0.04 per share on revenues of $27.30 million for the quarter.

For the full year 2012, the company expects net income to be breakeven to $0.03 per share, adjusted net income of $0.07 to $0.12 per share, and net sales of $118.0 million to $126.0 million. Analysts currently estimate earnings of $0.26 per share, on revenues of $135.12 million for the year.

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by RTT Staff Writer

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