Aktieselskabet Schouw & Co. said its third-quarter normalized net income amounted to 22.61 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 30.50 kroner per share.

EPS increased year over year from 7.53 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 538.1 million kroner, a gain from 178.5 million kroner in the prior-year period.

The normalized profit margin climbed to 12.4% from 5.0% in the year-earlier period.

Total revenue climbed 20.2% year over year to 4.33 billion kroner from 3.60 billion kroner, and total operating expenses rose 19.3% on an annual basis to 3.97 billion kroner from 3.33 billion kroner.

Reported net income grew from the prior-year period to 777.1 million kroner, or 32.65 kroner per share, from 170.6 million kroner, or 7.20 kroner per share.

As of Nov. 10, US$1 was equivalent to 6.84 Danish kroner.