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Constellation Software profit misses consensus by 60.0% in Q1

Constellation Software Inc. said its first-quarter normalized net income was $1.33 per share, compared with the S&P Capital IQ consensus estimate of $3.33 per share.

EPS climbed 127.5% year over year from 58 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $28.2 million, an increase of 127.5% from $12.4 million in the prior-year period.

The normalized profit margin climbed to 6.6% from 3.1% in the year-earlier period.

Total revenue climbed 7.1% on an annual basis to $422.9 million from $394.8 million, and total operating expenses came to $370.1 million, compared with $371.9 million in the prior-year period.

Reported net income grew 270.1% from the prior-year period to $32.9 million, or $1.55 per share, from $8.9 million, or 42 cents per share.