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Lagercrantz profit misses consensus by 23.0% in fiscal Q3

Lagercrantz Group AB (publ) said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 71 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 92 öre per share.

EPS climbed 11.9% year over year from 63 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 48.4 million kronor, an increase of 12.3% from 43.1 million kronor in the year-earlier period.

The normalized profit margin rose to 6.3% from 5.9% in the year-earlier period.

Total revenue increased on an annual basis to 768.0 million kronor from 733.0 million kronor, and total operating expenses rose on an annual basis to 688.5 million kronor from 662.0 million kronor.

Reported net income rose 13.1% from the prior-year period to 60.7 million kronor, or 89 öre per share, from 53.7 million kronor, or 79 öre per share.

As of Jan. 28, US$1 was equivalent to 8.51 Swedish kronor.