Leon's Furniture Ltd. said its third-quarter normalized net income amounted to 28 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 33 cents per share.

In the prior-year period, the per-share result came in at a profit of 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$23.4 million, compared with C$23.2 million in the year-earlier period.

The normalized profit margin dropped to 4.3% from 4.4% in the year-earlier period.

Total revenue rose year over year to C$538.1 million from C$531.7 million, and total operating expenses grew from the prior-year period to C$496.3 million from C$490.9 million.

Reported net income totaled C$28.0 million, or 34 cents per share, compared to C$28.0 million, or 34 cents per share, in the prior-year period.