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IC Group profit misses consensus by 17.1% in fiscal Q3

IC Group A/S said its normalized net income for the fiscal third quarter ended March 31 came to 3.45 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 4.17 kroner per share.

EPS climbed 45.4% year over year from 2.38 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 57.5 million kroner, a gain of 46.0% from 39.4 million kroner in the year-earlier period.

The normalized profit margin rose to 8.1% from 5.5% in the year-earlier period.

Total revenue declined on an annual basis to 710.0 million kroner from 719.0 million kroner, and total operating expenses declined on an annual basis to 623.0 million kroner from 654.0 million kroner.

Reported net income increased 56.3% on an annual basis to 69.9 million kroner, or 4.20 kroner per share, from 44.7 million kroner, or 2.70 kroner per share.

As of May 18, US$1 was equivalent to 6.59 Danish kroner.