LONDON (dpa-AFX) - SKF AB (SKUFF) announced earnings for fourth quarter that Drops, from last year
The company's bottom line totaled SEK568 million, or SEK1.25 per share. This compares with SEK1.507 billion, or SEK3.31 per share, last year.
Excluding items, SKF AB reported adjusted earnings of SEK1.616 billion or SEK3.50 per share for the period.
The company's revenue for the period fell 11.1% to SEK21.969 billion from SEK24.725 billion last year.
SKF AB earnings at a glance (GAAP) :
-Earnings: SEK568 Mln. vs. SEK1.507 Bln. last year. -EPS: SEK1.25 vs. SEK3.31 last year. -Revenue: SEK21.969 Bln vs. SEK24.725 Bln last year.
The Board has decided to propose a dividend of SEK 7.75 per share to the Annual General Meeting.
Looking ahead, for the first quarter, the company, said: 'We expect market demand to remain at similar levels as in Q4. Consequently, we expect organic sales to strengthen somewhat year-over-year, supported by more favourable comparables.'
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