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Rite Aid profit beats consensus by 41.0% in fiscal Q3

Rite Aid Corp. said its normalized net income for the fiscal third quarter ended Nov. 29, 2014, came to 8 cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

EPS climbed 97.2% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $83.4 million, a gain from $41.0 million in the prior-year period.

The normalized profit margin rose to 1.2% from 0.6% in the year-earlier period.

Total revenue rose 5.3% year over year to $6.69 billion from $6.36 billion, and total operating expenses rose on an annual basis to $6.46 billion from $6.19 billion.

Reported net income grew from the prior-year period to $106.2 million, or 10 cents per share, from $39.5 million, or 4 cents per share.