Stella International Holdings Ltd. said its normalized net income for the first half came to 2 cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.
EPS decreased 45.3% year over year from 5 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $19.8 million, a decline of 45.3% from $36.1 million in the prior-year period.
Total revenue decreased 9.6% on an annual basis to $721.4 million from $798.1 million, and total operating expenses decreased 6.6% from the prior-year period to $702.1 million from $752.1 million.
Reported net income decreased 43.8% year over year to $30.4 million, or 4 cents per share, from $54.0 million, or 7 cents per share.