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Cara Operations profit misses consensus by 18.9% in fiscal Q2

Recipe Unlimited Corp. said its normalized net income for the fiscal second quarter ended June 28 amounted to 21 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS decreased 12.5% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$10.5 million, an increase from C$4.5 million in the second quarter ended July 1, 2014.

The normalized profit margin rose to 13.0% from 6.5% in the year-earlier period.

Total revenue increased 16.6% on an annual basis to C$80.9 million from C$69.3 million, and total operating expenses rose 11.5% on an annual basis to C$59.5 million from C$53.4 million.

Reported net income grew from the prior-year period to C$15.5 million, or 31 cents per share, from C$4.4 million, or 23 cents per share.