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Corus profit misses consensus by 22.8% in fiscal Q1

Corus Entertainment Inc. said its normalized net income for the fiscal first quarter ended Nov. 30, 2015, was 42 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 55 cents per share.

EPS fell 17.9% year over year from 52 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$37.0 million, a decline of 16.7% from C$44.4 million in the year-earlier period.

The normalized profit margin fell to 16.1% from 19.5% in the year-earlier period.

Total revenue totaled C$228.3 million, compared with C$227.1 million in the year-earlier period, and total operating expenses rose year over year to C$143.4 million from C$139.6 million.

Reported net income decreased 20.5% on an annual basis to C$41.0 million, or 47 cents per share, from C$51.6 million, or 60 cents per share.