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Rapala VMC profit misses consensus by 52.1% in Q2

Rapala VMC Corp. said its second-quarter normalized net income was 8 euro cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS decreased year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €3.2 million, a decrease from €3.4 million in the year-earlier period.

The normalized profit margin fell to 4.1% from 4.3% in the year-earlier period.

Total revenue rose year over year to €80.1 million from €77.7 million, and total operating expenses increased on an annual basis to €72.0 million from €69.3 million.

Reported net income grew 6.5% on an annual basis to €3.3 million, or 8 cents per share, from €3.1 million, or 8 cents per share.