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Hershey fiscal Q1 profit falls YOY

The Hershey Company said its normalized net income for the fiscal first quarter ended April 5 amounted to $1.07 per share, compared with the S&P Capital IQ consensus estimate of $1.16 per share.

In the prior-year period, the per-share result came in at a profit of $1.06.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $237.5 million, a decrease from $240.8 million in the first quarter ended March 30, 2014.

The normalized profit margin fell to 12.0% from 12.9% in the year-earlier period.

Total revenue climbed on an annual basis to $1.94 billion from $1.87 billion, and total operating expenses increased 5.0% year over year to $1.54 billion from $1.47 billion.

Reported net income declined from the prior-year period to $245.0 million, or $1.10 per share, from $252.0 million, or $1.11 per share.