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Clas Ohlson fiscal Q2 profit falls YOY

Clas Ohlson AB said its normalized net income for the fiscal second quarter ended Oct. 31 was 1.43 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.62 kronor per share.

EPS decreased year over year from 1.50 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 90.5 million kronor, a decline from 94.8 million kronor in the prior-year period.

The normalized profit margin declined to 4.9% from 5.2% in the year-earlier period.

Total revenue grew year over year to 1.85 billion kronor from 1.81 billion kronor, and total operating expenses increased year over year to 1.70 billion kronor from 1.66 billion kronor.

Reported net income fell from the prior-year period to 110.9 million kronor, or 1.75 kronor per share, from 115.7 million kronor, or 1.83 kronor per share.

As of Dec. 9, US$1 was equivalent to 8.44 Swedish kronor.