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Saputo fiscal Q3 profit climbs YOY

Saputo Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 40 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 41 cents per share.

EPS increased year over year from 39 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$158.6 million, an increase from C$154.5 million in the year-earlier period.

The normalized profit margin fell to 4.7% from 6.6% in the year-earlier period.

Total revenue climbed 20.4% year over year to C$2.82 billion from C$2.34 billion, and total operating expenses climbed 22.6% year over year to C$2.55 billion from C$2.08 billion.

Reported net income grew year over year to C$150.8 million, or 38 cents per share, from C$145.6 million, or 37 cents per share.