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CarMax fiscal Q3 profit falls YOY

CarMax Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2015, amounted to 64 cents per share, compared with the S&P Capital IQ consensus estimate of 68 cents per share.

EPS rose 5.3% year over year from 61 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $130.0 million, a decline from $131.8 million in the prior-year period.

The normalized profit margin dropped to 3.5% from 3.7% in the year-earlier period.

Total revenue increased on an annual basis to $3.72 billion from $3.56 billion, and total operating expenses rose from the prior-year period to $3.50 billion from $3.34 billion.

Reported net income decreased year over year to $128.1 million, or 63 cents per share, from $130.2 million, or 60 cents per share.