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Uni-Select Q2 profit climbs 31.1% YOY

Uni-Select Inc. said its second-quarter normalized net income amounted to 37 cents per share, compared with the S&P Capital IQ consensus estimate of 39 cents per share.

EPS climbed 38.1% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.0 million, an increase of 31.1% from $12.2 million in the year-earlier period.

The normalized profit margin rose to 3.9% from 2.5% in the year-earlier period.

Total revenue declined 14.7% on an annual basis to $408.3 million from $478.7 million, and total operating expenses decreased 16.7% from the prior-year period to $380.6 million from $457.0 million.

Reported net income declined 23.3% year over year to $12.4 million, or 29 cents per share, from $16.2 million, or 36 cents per share.