Cascade Corp. (CASC) reported that its fourth-quarter net income was $5.71 million or $0.50 per share, down from $13.20 million or $1.16 per share in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.09 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter declined to $123.57 million from $125.92 million in the prior year quarter. Two analysts had consensus revenue estimate of $135.60 million for the quarter.
Consolidated net sales during the fourth quarter of fiscal 2013 decreased compared to the fourth quarter of fiscal 2012, excluding the impact of foreign currency changes, primarily due to lower sales volumes in Europe.
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