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MQ Holding profit misses consensus by 20.3% in fiscal Q2

MQ Holding AB said its normalized net income for the fiscal second quarter ended Feb. 28 amounted to 44 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 56 öre per share.

EPS climbed 37.3% year over year from 32 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.6 million kronor, an increase of 38.9% from 11.3 million kronor in the year-earlier period.

The normalized profit margin increased to 3.7% from 2.7% in the year-earlier period.

Total revenue held steady year over year at 417.0 million kronor, and total operating expenses totaled 398.0 million kronor, compared with 397.0 million kronor in the prior-year period.

Reported net income rose 39.1% on an annual basis to 19.3 million kronor, or 54 öre per share, from 13.9 million kronor, or 40 öre per share.

As of March 18, US$1 was equivalent to 8.75 Swedish kronor.