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Clas Ohlson profit misses consensus by 20.5% in fiscal Q1

Clas Ohlson AB said its normalized net income for the fiscal first quarter ended July 31 was 1.04 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.31 kronor per share.

EPS climbed year over year from 1.01 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 66.3 million kronor, a gain from 63.8 million kronor in the year-earlier period.

The normalized profit margin fell to 3.7% from 3.9% in the year-earlier period.

Total revenue rose 7.8% on an annual basis to 1.77 billion kronor from 1.64 billion kronor, and total operating expenses rose 8.0% year over year to 1.66 billion kronor from 1.54 billion kronor.

Reported net income rose year over year to 80.7 million kronor, or 1.27 kronor per share, from 77.9 million kronor, or 1.23 kronor per share.

As of Sept. 9, US$1 was equivalent to 8.40 Swedish kronor.