(RTTNews) - Gates Industrial Corp plc. (GTES), a provider of application-specific power transmission and fluid power solutions, Thursday announced a fall in fourth-quarter net income from the prior year.
The quarterly net income, attributable to shareholders decreased to $36.6 million from $62.9 million in the previous year.
The earnings per share also decreased to $0.14 from $0.24 in the last year. The adjusted net income was $93.5 million or $0.36 per share.
The net sales dropped by 3.9 percent to $829.4 million from $863.3 million in the year-ago quarter.
For the full year 2025, the company anticipates adjusted Earnings Per Share is expected to range between $1.36 to $1.52. Adjusted EBITDA is expected in a range of $735 million to $795 million.
In the pre-market trading, Gates Industrial is 1.32% less at $20.77 on the New York Stock Exchange.
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