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Fiskars profit beats consensusin Q1

Fiskars Oyj Abp said its first-quarter normalized net income amounted to 42 euro cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS climbed year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €34.2 million, a gain from €9.2 million in the prior-year period.

The normalized profit margin increased to 14.9% from 5.0% in the year-earlier period.

Total revenue grew 24.9% on an annual basis to €230.0 million from €184.1 million, and total operating expenses increased 21.8% on an annual basis to €214.4 million from €176.0 million.

Reported net income increased from the prior-year period to €77.7 million, or 95 cents per share, from €11.8 million, or 14 cents per share.