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Ubiquiti Networks profit misses consensus by 17.7% in fiscal Q2

Ubiquiti Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 42 cents per share, compared with the S&P Capital IQ consensus estimate of 51 cents per share.

EPS rose 19.2% year over year from 35 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $36.3 million, a gain of 14.4% from $31.7 million in the prior-year period.

The normalized profit margin increased to 22.4% from 20.7% in the year-earlier period.

Total revenue grew 5.7% on an annual basis to $161.9 million from $153.1 million, and total operating expenses came to $103.2 million, compared with $102.4 million in the year-earlier period.

Reported net income grew 5.2% from the prior-year period to $49.1 million, or 57 cents per share, from $46.7 million, or 52 cents per share.