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MATAS profit misses consensus by 35.2% in fiscal Q1

Matas A/S said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.41 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 2.17 kroner per share.

EPS rose 11.3% year over year from 1.26 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 57.3 million kroner, an increase of 10.6% from 51.8 million kroner in the year-earlier period.

The normalized profit margin increased to 6.9% from 6.4% in the year-earlier period.

Total revenue increased on an annual basis to 827.2 million kroner from 803.0 million kroner, and total operating expenses increased from the prior-year period to 715.9 million kroner from 686.3 million kroner.

Reported net income grew 58.7% from the prior-year period to 67.6 million kroner, or 1.66 kroner per share, from 42.6 million kroner, or 1.04 kroner per share.

As of Aug. 21, US$1 was equivalent to 5.61 Danish kroner.