Label solutions provider Multi-Color Corp. (LABL: Quote) said fourth-quarter net income fell to $3.05 million from $9.15 million in the prior year. Earnings per share dropped to $0.18 from $0.56.
The company attributed the decline to non-core items including goodwill impairment loss of $13.5 million in relation to the Latin America Wine & Spirit reporting unit.
Core earnings per share increased 21 percent to $0.68 per share from $0.56 in the prior year quarter.
On average, three analysts polled by Thomson Reuters expected earnings of $0.58 per share for the quarter. Analysts estimates typically exclude special items.
Net revenues increased to $193.52 million from $167.99 million in the prior year. Wall Street expected revenues of $187.53 million.
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by RTT Staff Writer
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