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Modine Manufacturing fiscal Q3 profit climbs YOY

Modine Manufacturing Co. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 11 cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

In the prior-year period, the per-share result came in at a profit of 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.4 million, a gain from $5.3 million in the year-earlier period.

The normalized profit margin dropped to 1.5% from 1.5% in the year-earlier period.

Total revenue grew on an annual basis to $363.6 million from $347.0 million, and total operating expenses increased 5.0% year over year to $351.4 million from $334.7 million.

Reported net income totaled $9.1 million, or 19 cents per share, compared to a loss of $3.8 million, or a loss of 8 cents per share, in the prior-year period.