Sotheby's Q4 Profit Declines - Quick Facts

(RTTNews) - Auction house Sotheby's (BID) Monday said fourth-quarter net income attributable to the company was $74.0 million, or $1.06 per share, compared to $90.8 million, or $1.30 per share in the prior year's fourth quarter.

Adjusted net income for the latest fourth quarter was $78.4 million or $1.12 per share, down from $91.5 million or $1.31 per share in the prior year period.

On average, six analysts polled by Thomson Reuters expected the company to earn $1.28 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues rose to $351.22 million from last year's $339.20 million, while six analysts estimated revenues of $338.11 million.

"We had a remarkable 2014, with double digit sales growth in many of Sotheby's key categories - including Impressionist & Modern Art, Contemporary Art, Jewelry, Old Masters and American Art, among others. These successes highlight the incredible depth and breadth of Sotheby's expertise and demonstrate our ability to deliver for our stakeholders," said Chairman, President and Chief Executive Officer Bill Ruprecht.