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Constellation Software profit misses consensus by 58.2% in Q4

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Constellation Software profit misses consensus by 58.2% in Q4

Constellation Software Inc. said its fourth-quarter normalized net income was $2.33 per share, compared with the S&P Capital IQ consensus estimate of $5.57 per share.

EPS decreased year over year from $2.40.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $49.3 million, a decline from $50.8 million in the prior-year period.

The normalized profit margin fell to 8.7% from 9.9% in the year-earlier period.

Total revenue grew 10.2% on an annual basis to $563.8 million from $511.6 million, and total operating expenses climbed 11.3% on an annual basis to $475.4 million from $427.0 million.

Reported net income came to $65.7 million, or $3.10 per share, compared with $65.9 million, or $3.11 per share, in the prior-year period.

For the year, the company's normalized net income totaled $8.20 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $18.72.

EPS rose from $7.40 in the prior year.

Normalized net income was $173.8 million, a gain from $156.9 million in the prior year.

Full-year total revenue grew on an annual basis to $2.13 billion from $1.84 billion, and total operating expenses increased year over year to $1.79 billion from $1.57 billion.

The company said reported net income rose on an annual basis to $206.8 million, or $9.76 per share, in the full year, from $177.2 million, or $8.36 per share.