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Midsona profit misses consensus by 31.3% in Q2

Midsona AB said its normalized net income for the second quarter was 30 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 44 öre per share.

EPS climbed 10.0% year over year from 27 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.9 million kronor, a gain of 10.0% from 6.3 million kronor in the prior-year period.

The normalized profit margin rose to 3.1% from 2.8% in the year-earlier period.

Total revenue held steady year over year at 223.0 million kronor, and total operating expenses came to 210.0 million kronor, compared with 211.0 million kronor in the prior-year period.

Reported net income increased 50.0% from the prior-year period to 12.0 million kronor, or 53 öre per share, from 8.0 million kronor, or 35 öre per share.

As of July 17, US$1 was equivalent to 8.63 Swedish kronor.