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Empire Co. profit misses consensus by 18.1% in fiscal Q3

Empire Co. Ltd. said its normalized net income for the fiscal third quarter ended Jan. 31 came to 34 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 41 cents per share.

EPS increased 76.9% year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$93.2 million, a gain of 77.5% from C$52.5 million in the third quarter ended Feb. 1, 2014.

The normalized profit margin rose to 1.6% from 0.9% in the year-earlier period.

Total revenue came to C$5.98 billion, compared with C$6.02 billion in the year-earlier period, and total operating expenses fell from the prior-year period to C$5.80 billion from C$5.89 billion.

Reported net income grew from the prior-year period to C$123.8 million, or 45 cents per share, from C$6.4 million, or 2 cents per share.