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Corus profit beats consensus by 34.4% in fiscal Q2

Corus Entertainment Inc. said its normalized net income for the fiscal second quarter ended Feb. 29 was 31 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 23 cents per share.

EPS climbed 11.7% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$27.2 million, an increase of 13.6% from C$24.0 million in the prior-year period.

The normalized profit margin increased to 13.8% from 12.5% in the year-earlier period.

Total revenue increased year over year to C$197.7 million from C$191.5 million, and total operating expenses decreased 6.6% year over year to C$128.7 million from C$137.9 million.

Reported net income came to C$102.6 million, or C$1.17 per share, compared to a loss of C$87.1 million, or a loss of C$1.01 per share, in the prior-year period.