Primo Water misses Street 4Q forecasts

WINSTON-SALEM, N.C. (AP) _ Primo Water Corp. (PRMW) on Tuesday reported fourth-quarter net income of $3 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Winston-Salem, North Carolina-based company said it had profit of 9 cents. Losses, adjusted for pretax gains, came to 2 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The purified water provider posted revenue of $68.3 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $69.6 million.

For the year, the company reported that its loss widened to $6.4 million, or 19 cents per share. Revenue was reported as $286.1 million.

For the current quarter ending in April, Primo Water said it expects revenue in the range of $298 million to $302 million.

The company expects full-year revenue in the range of $66.5 million to $69.5 million.

Primo Water shares have risen roughly 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.94, a drop of 11 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRMW at https://www.zacks.com/ap/PRMW