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Marriott Vacations Worldwide fiscal Q2 profit falls YOY

Marriott Vacations Worldwide Corp. said its normalized net income for the fiscal second quarter ended June 19 was 94 cents per share, compared with the S&P Capital IQ consensus estimate of 87 cents per share.

EPS rose 7.0% year over year from 88 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $30.6 million, a decrease from $31.0 million in the prior-year period.

The normalized profit margin fell to 10.1% from 10.7% in the year-earlier period.

Total revenue rose year over year to $302.1 million from $289.2 million, and total operating expenses climbed 5.0% year over year to $248.9 million from $237.1 million.

Reported net income decreased on an annual basis to $34.1 million, or $1.05 per share, from $35.2 million, or $1 per share.