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Corporate Travel Management profit misses consensus by 39.4% in fiscal H1

Corporate Travel Management Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 9 Australian cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

EPS climbed 39.3% year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$8.4 million, a gain of 68.1% from A$5.0 million in the year-earlier period.

Total revenue increased 92.9% year over year to A$83.8 million from A$43.4 million, and total operating expenses climbed 91.0% year over year to A$67.6 million from A$35.4 million.

Reported net income rose 76.0% from the prior-year period to A$9.9 million, or 11 cents per share, from A$5.6 million, or 7 cents per share.