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Hunter Douglas Q1 profit climbs 76.7% YOY

Hunter Douglas NV said its normalized net income for the first quarter was 32 cents per share, an increase of 73.5% from 19 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $11.3 million, an increase of 76.7% from $6.4 million in the prior-year period.

The normalized profit margin rose to 1.9% from 1.1% in the year-earlier period.

Total revenue fell on an annual basis to $586.8 million from $605.6 million, and total operating expenses decreased from the prior-year period to $563.8 million from $589.9 million.

Reported net income grew 70.8% year over year to $18.1 million, or 52 cents per share, from $10.6 million, or 31 cents per share.