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Unique Fabricating fiscal Q1 profit climbs 58.0% YOY

Unique Fabricating Inc. said its normalized net income for the fiscal first quarter ended April 3 came to 18 cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS increased 12.6% year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.8 million, a gain of 58.0% from $1.1 million in the first quarter ended March 29, 2015.

The normalized profit margin increased to 4.5% from 3.5% in the year-earlier period.

Total revenue increased 23.3% on an annual basis to $40.0 million from $32.4 million, and total operating expenses grew 23.5% from the prior-year period to $36.8 million from $29.8 million.

Reported net income rose 56.9% on an annual basis to $1.9 million, or 19 cents per share, from $1.2 million, or 17 cents per share.