Marine Harvest ASA said its first-quarter normalized net income came to 8 Norwegian øre per share, compared with the S&P Capital IQ consensus estimate of 16 øre per share.
EPS fell 58.6% year over year from 19 øre.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 32.2 million kroner, a decline of 58.8% from 78.2 million kroner in the year-earlier period.
The normalized profit margin fell to 4.5% from 11.0% in the year-earlier period.
Total revenue fell 8.0% on an annual basis to 654.1 million kroner from 711.2 million kroner, and total operating expenses increased on an annual basis to 618.8 million kroner from 593.5 million kroner.
Reported net income declined 47.8% from the prior-year period to 46.8 million kroner, or 11 øre per share, from 89.7 million kroner, or 22 øre per share.
As of April 29, US$1 was equivalent to 7.50 Norwegian kroner.
