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IC Group fiscal Q2 profit climbs YOY

IC Group A/S said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 1.01 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 1.14 kroner per share.

EPS climbed year over year from 99 øre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.7 million kroner, an increase from 16.3 million kroner in the prior-year period.

The normalized profit margin declined to 1.9% from 2.9% in the year-earlier period.

Total revenue grew 6.4% on an annual basis to 598.0 million kroner from 562.2 million kroner, and total operating expenses climbed 6.6% on an annual basis to 569.7 million kroner from 534.2 million kroner.

Reported net income declined 49.7% year over year to 9.9 million kroner, or 60 øre per share, from 19.8 million kroner, or 1.20 kroner per share.

As of Feb. 5, US$1 was equivalent to 6.51 Danish kroner.