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Spin Master profit beats consensus by 44.1% in Q3

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Spin Master profit beats consensus by 44.1% in Q3

Spin Master Corp. said its third-quarter normalized net income came to 44 cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

In the prior-year period, the per-share result was a profit of 44 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $41.0 million, an increase of 9.8% from $37.3 million in the prior-year period.

The normalized profit margin dropped to 11.9% from 12.7% in the year-earlier period.

Total revenue rose 31.7% on an annual basis to $386.8 million from $293.8 million, and total operating expenses increased 45.7% year over year to $317.1 million from $217.6 million.

Reported net income rose 5.9% on an annual basis to $48.8 million, or 52 cents per share, from $46.1 million, or 54 cents per share.