Pandora Posts 10% Drop In Q4 Net Profit, Projects Decline In 2012 Sales

Pandora A/S PNDZY posted a 10% decline in its fourth-quarter net profit, and projects drop in sales in 2012. Pandora's quarterly net profit dropped to DKK555 million, from DKK619 million, in the year-ago period. Its adjusted net profit fell 45% to DKK340 million. However, analysts were expecting a net profit of DKK374.3 million. Its EBIT declined 39% to DKK475 million, versus analysts' estimates of DKK475.8 million. Pandora's group sales dropped 15% to DKK1.95 billion, from DKK2.30 billion in the year-ago quarter, versus analysts' expectations of DKK2.03 billion. Pandora shares closed at $3.61 on Friday.