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Saputo fiscal Q3 profit climbs 16.9% YOY

Saputo Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 39 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 39 cents per share.

EPS rose 16.8% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$156.0 million, a gain of 16.9% from C$133.4 million in the year-earlier period.

The normalized profit margin rose to 5.4% from 4.7% in the year-earlier period.

Total revenue rose on an annual basis to C$2.90 billion from C$2.82 billion, and total operating expenses grew from the prior-year period to C$2.63 billion from C$2.59 billion.

Reported net income grew 15.9% year over year to C$174.8 million, or 44 cents per share, from C$150.8 million, or 38 cents per share.