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Coty profit beats consensus by 21.6% in fiscal Q3

Coty Inc. said its normalized net income for the fiscal third quarter ended March 31 was 14 cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

EPS rose 79.9% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $51.0 million, an increase of 66.2% from $30.7 million in the prior-year period.

The normalized profit margin climbed to 5.5% from 3.0% in the year-earlier period.

Total revenue fell 7.4% on an annual basis to $933.8 million from $1.01 billion, and total operating expenses decreased 11.7% on an annual basis to $824.3 million from $933.8 million.

Reported net income came to $74.5 million, or 21 cents per share, compared to a loss of $253.4 million, or a loss of 66 cents per share, in the year-earlier period.