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Brown-Forman fiscal Q1 profit climbs YOY

Brown-Forman Corp. said its normalized net income for the fiscal first quarter ended July 31 was 31 cents per share, compared with the S&P Capital IQ consensus estimate of 36 cents per share.

EPS climbed year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $133.8 million, an increase from $131.9 million in the year-earlier period.

The normalized profit margin fell to 19.0% from 19.2% in the year-earlier period.

Total revenue climbed year over year to $705.0 million from $686.0 million, and total operating expenses totaled $475.0 million, compared with $472.0 million in the prior-year period.

Reported net income increased 5.9% year over year to $150.5 million, or 35 cents per share, from $142.1 million, or 33 cents per share.