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New Look Vision profit misses consensus by 43.5% in fiscal Q3

New Look Vision Group Inc. said its normalized net income for the fiscal third quarter ended Sept. 26 came to 13 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 23 cents per share.

EPS declined 13.7% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$1.8 million, a decline of 9.3% from C$1.9 million in the prior-year period.

The normalized profit margin dropped to 4.3% from 5.9% in the year-earlier period.

Total revenue climbed 27.3% on an annual basis to C$41.4 million from C$32.5 million, and total operating expenses grew 30.5% year over year to C$37.2 million from C$28.5 million.

Reported net income came to a loss of C$688,460, or a loss of 5 cents per share, compared to income of C$1.7 million, or 13 cents per share, in the prior-year period.