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Viscofan profit misses consensus by 21.1% in Q2

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Viscofan profit misses consensus by 21.1% in Q2

Viscofan SA said its second-quarter normalized net income was 53 euro cents per share, compared with the S&P Capital IQ consensus estimate of 67 cents per share.

EPS climbed 8.7% year over year from 49 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €24.6 million, an increase of 8.2% from €22.7 million in the year-earlier period.

The normalized profit margin fell to 12.8% from 13.2% in the year-earlier period.

Total revenue climbed 11.0% on an annual basis to €191.6 million from €172.6 million, and total operating expenses grew 11.7% year over year to €151.1 million from €135.3 million.

Reported net income rose 7.6% on an annual basis to €30.0 million, or 65 cents per share, from €27.9 million, or 60 cents per share.