Tupperware Brands (NYSE:TUP) reported net loss of $ 326.5 million or per share of $ 6.41 for the fourth quarter.
The company delivered net sales of $ 588.60 million for the same period representing year-over-year decline of 2 percent that fell shy of street analysts expectation by $ 16 million.
However, on an adjusted basis, Tupperware Brands reported Non-GAAP net income of $ 1.59 a share for the same period that exceeded market expectations.
Analysts polled by Thomson Reuters expected Tupperware Brands to report income of $ 1.50 per share on revenue of $ 605.05 million for the fourth quarter. Analysts estimate normally exclude one time gain or loss.
Rick Goings, Chairman and CEO, commented, Our local currency sales came in 1-point under our October guidance range. Overall, our top-line did accelerate on a sequential basis after adjusting for calendar shifts, in connection with having an additional week in the fourth quarter of 2016, and the closure of Beauticontrol.
For the twelve months period, TUP disclosed net loss of $ 265.4 million or $ 5.22 per share from the net sales of $ 2.26 billion.
At the same time, Tupperware Brands recorded twelve months adjusted earnings of $ 248.30 million or $ 4.84 per share.
Moving forward, Orlando, Florida based company provides first quarter earnings estimations in the range of $ 1.01 – $ 1.06 per share, while the full year 2018 earnings are expected between $ 5.09 and $ 5.24 per share.
The board of directors has authorized Quarterly dividend of $ 0.68 per share. The dividend is payable on 5th April 2018 to holders of record as of the close of business on 20th March 2018.