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Universal Technical Institute profit beats consensusin fiscal Q1

Universal Technical Institute Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, was 13 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

EPS climbed 61.9% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.3 million, an increase of 62.5% from $2.1 million in the prior-year period.

The normalized profit margin increased to 3.5% from 2.1% in the year-earlier period.

Total revenue declined year over year to $95.7 million from $97.0 million, and total operating expenses declined year over year to $90.1 million from $94.0 million.

Reported net income grew 72.0% year over year to $3.0 million, or 12 cents per share, from $1.7 million, or 7 cents per share.