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Snyder's-Lance profit misses consensus by 26.1% in fiscal Q1

Snyder's-Lance Inc. said its normalized net income for the fiscal first quarter ended April 4 was 14 cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

EPS climbed 11.6% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $9.6 million, a gain of 12.4% from $8.5 million in the first quarter ended March 29, 2014.

The normalized profit margin rose to 2.5% from 2.3% in the year-earlier period.

Total revenue rose 7.9% on an annual basis to $402.3 million from $373.0 million, and total operating expenses grew 8.2% on an annual basis to $384.9 million from $355.9 million.

Reported net income totaled $10.7 million, or 15 cents per share, compared to $10.6 million, or 15 cents per share, in the first quarter ended March 29, 2014.