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Flowers Foods fiscal Q1 profit falls YOY

Flowers Foods Inc. said its normalized net income for the fiscal first quarter ended April 23 was 27 cents per share, compared with the S&P Capital IQ consensus estimate of 29 cents per share.

EPS declined year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $57.7 million, a decrease from $59.3 million in the prior-year period.

The normalized profit margin fell to 4.8% from 5.2% in the year-earlier period.

Total revenue rose 5.1% on an annual basis to $1.20 billion from $1.15 billion, and total operating expenses climbed 5.7% from the prior-year period to $1.11 billion from $1.05 billion.

Reported net income decreased year over year to $59.6 million, or 28 cents per share, from $61.7 million, or 29 cents per share.