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Dorman Products fiscal Q1 profit falls 9.0% YOY

Dorman Products Inc. said its normalized net income for the fiscal first quarter ended March 28 came to 59 cents per share, compared with the S&P Capital IQ consensus estimate of 67 cents per share.

EPS fell 6.6% year over year from 63 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $21.0 million, a decline of 9.0% from $23.1 million in the year-earlier period.

The normalized profit margin dropped to 11.1% from 12.6% in the year-earlier period.

Total revenue rose year over year to $188.5 million from $183.5 million, and total operating expenses grew 5.6% from the prior-year period to $154.8 million from $146.6 million.

Reported net income declined 8.6% on an annual basis to $21.4 million, or 60 cents per share, from $23.4 million, or 64 cents per share.