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Metro Inc. profit misses consensus by 15.4% in fiscal Q1

Metro Inc. said its normalized net income for the fiscal first quarter ended Dec. 20, 2014, came to 37 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS increased 18.2% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$93.9 million, a gain of 9.5% from C$85.7 million in the year-earlier period.

The normalized profit margin rose to 3.3% from 3.2% in the year-earlier period.

Total revenue rose 5.2% on an annual basis to C$2.84 billion from C$2.70 billion, and total operating expenses climbed 4.9% year over year to C$2.69 billion from C$2.56 billion.

Reported net income grew 13.7% from the prior-year period to C$110.2 million, or 43 cents per share, from C$97.0 million, or 35 cents per share.