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Select Harvests profit misses consensus by 25.2% in fiscal H1

Select Harvests Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, amounted to 22 Australian cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS decreased 18.2% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$16.3 million, a decrease of 6.7% from A$17.5 million in the year-earlier period.

Total revenue climbed 65.3% on an annual basis to A$166.4 million from A$100.7 million, and total operating expenses increased 96.5% from the prior-year period to A$137.7 million from A$70.1 million.

Reported net income rose 41.0% from the prior-year period to A$23.9 million, or 33 cents per share, from A$17.0 million, or 27 cents per share.