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Universal fiscal Q3 profit climbs 33.1% YOY

Universal Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to $1.79 per share, an increase of 33.4% from $1.34 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $50.6 million, an increase of 33.1% from $38.0 million in the year-earlier period.

The normalized profit margin rose to 6.7% from 5.0% in the year-earlier period.

Total revenue declined on an annual basis to $758.1 million from $767.8 million, and total operating expenses decreased on an annual basis to $664.0 million from $695.0 million.

Reported net income rose 37.5% year over year to $53.0 million, or $1.87 per share, from $38.6 million, or $1.36 per share.