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Fiskars profit misses consensus by 37.2% in Q2

Fiskars Oyj Abp said its normalized net income for the second quarter came to 13 euro cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS fell 43.8% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €10.1 million, a decline of 45.1% from €18.3 million in the prior-year period.

The normalized profit margin declined to 3.2% from 9.1% in the year-earlier period.

Total revenue increased 26.1% year over year to €253.4 million from €201.0 million, and total operating expenses climbed 26.5% year over year to €231.0 million from €182.6 million.

Reported net income fell 36.2% year over year to €13.6 million, or 17 cents per share, from €21.3 million, or 26 cents per share.