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Fortive profit misses consensus by 16.8% in Q2

Fortive Corp. said its normalized net income for the second quarter amounted to 58 cents per share, compared with the S&P Capital IQ consensus estimate of 69 cents per share.

In the prior-year period, the per-share result came in at a profit of 58 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $203.5 million, an increase from $199.6 million in the second quarter ended July 1, 2016.

The normalized profit margin fell to 12.5% from 12.8% in the year-earlier period.

Total revenue rose year over year to $1.63 billion from $1.56 billion, and total operating expenses increased year over year to $1.28 billion from $1.23 billion.

Reported net income came to $239.5 million, or 68 cents per share, compared with $238.2 million, or 69 cents per share, in the second quarter ended July 1, 2016.