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Rogers Sugar profit misses consensus by 39.4% in fiscal Q1

Rogers Sugar Inc. said its normalized net income for the fiscal first quarter ended Dec. 27, 2014, amounted to 7 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

EPS decreased 24.1% year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$8.0 million, a decrease of 24.2% from C$10.5 million in the year-earlier period.

The normalized profit margin dropped to 6.2% from 7.7% in the year-earlier period.

Total revenue decreased 6.0% on an annual basis to C$128.7 million from C$136.9 million, and total operating expenses fell from the prior-year period to C$113.0 million from C$117.5 million.

Reported net income decreased 22.4% on an annual basis to C$10.7 million, or 10 cents per share, from C$13.8 million, or 13 cents per share.