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MTS Systems fiscal Q1 profit falls 12.1% YOY

MTS Systems Corp. said its normalized net income for the fiscal first quarter ended Jan. 2 was 55 cents per share, compared with the S&P Capital IQ consensus estimate of 57 cents per share.

EPS declined 10.5% year over year from 61 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.2 million, a decline of 12.1% from $9.3 million in the first quarter ended Dec. 27, 2014.

The normalized profit margin fell to 5.8% from 6.5% in the year-earlier period.

Total revenue declined year over year to $140.5 million from $142.6 million, and total operating expenses totaled $126.9 million, compared with $126.8 million in the year-earlier period.

Reported net income fell 14.9% year over year to $11.7 million, or 78 cents per share, from $13.7 million, or 90 cents per share.