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IC Group profit misses consensus by 69.3% in fiscal Q2

IC Group A/S said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 47 Danish øre per share, compared with the S&P Capital IQ consensus estimate of 1.51 kroner per share.

EPS fell 31.5% year over year from 68 øre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.8 million kroner, a decrease of 31.1% from 11.3 million kroner in the prior-year period.

The normalized profit margin fell to 1.3% from 1.9% in the year-earlier period.

Total revenue came to 603.0 million kroner, compared with 598.0 million kroner in the year-earlier period, and total operating expenses grew on an annual basis to 584.0 million kroner from 577.0 million kroner.

Reported net income came to 10.0 million kroner, or 60 øre per share, compared to 9.9 million kroner, or 60 øre per share, in the prior-year period.

As of Feb. 5, US$1 was equivalent to 6.71 Danish kroner.