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Cott profit misses consensus by 70.9% in fiscal Q3

Cott Corp. said its normalized net income for the fiscal third quarter ended Oct. 3 was 3 cents per share, compared with the S&P Capital IQ consensus estimate of 11 cents per share.

EPS increased 57.2% year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.6 million, a gain of 84.0% from $1.9 million in the third quarter ended Sept. 27, 2014.

The normalized profit margin rose to 0.5% from 0.4% in the year-earlier period.

Total revenue grew 41.2% year over year to $755.6 million from $535.0 million, and total operating expenses increased 39.6% from the prior-year period to $719.3 million from $515.4 million.

Reported net income increased on an annual basis to $4.4 million, or 4 cents per share, from $943,480, or 1 cents per share.