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Olvi profit misses consensus by 25.5% in Q3

Olvi Oyj said its third-quarter normalized net income came to 45 euro cents per share, compared with the S&P Capital IQ consensus estimate of 60 cents per share.

EPS increased 87.7% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €9.3 million, a gain of 86.0% from €5.0 million in the prior-year period.

The normalized profit margin rose to 10.4% from 5.6% in the year-earlier period.

Total revenue totaled €89.7 million, compared with €88.9 million in the prior-year period, and total operating expenses totaled €74.5 million, compared with €74.8 million in the prior-year period.

Reported net income increased 71.4% on an annual basis to €13.3 million, or 64 cents per share, from €7.7 million, or 37 cents per share.