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Mohawk Industries fiscal Q1 profit climbs 43.4% YOY

Mohawk Industries Inc. said its normalized net income for the fiscal first quarter ended April 4 came to $1.41 per share, compared with the S&P Capital IQ consensus estimate of $1.61 per share.

EPS climbed 42.9% year over year from 99 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $103.6 million, an increase of 43.4% from $72.2 million in the first quarter ended March 29, 2014.

The normalized profit margin climbed to 5.5% from 4.0% in the year-earlier period.

Total revenue climbed on an annual basis to $1.88 billion from $1.81 billion, and total operating expenses climbed from the prior-year period to $1.70 billion from $1.67 billion.

Reported net income decreased 72.9% from the prior-year period to $22.1 million, or 30 cents per share, from $81.3 million, or $1.11 per share.