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Colabor Group fiscal Q2 profit falls 6.4% YOY

Colabor Group Inc. said its normalized net income for the fiscal second quarter ended June 13 amounted to 5 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS fell 7.7% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$1.3 million, a decline of 6.4% from C$1.4 million in the prior-year period.

The normalized profit margin fell to 0.4% from 0.4% in the year-earlier period.

Total revenue climbed 5.6% on an annual basis to C$366.6 million from C$347.2 million, and total operating expenses rose 5.7% from the prior-year period to C$361.5 million from C$342.2 million.

Reported net income declined 38.5% from the prior-year period to C$1.0 million, or 4 cents per share, from C$1.6 million, or 6 cents per share.