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Novozymes profit misses consensus by 19.0% in Q1

Novozymes A/S said its first-quarter normalized net income amounted to 2.04 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 2.52 kroner per share.

EPS increased year over year from 1.95 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 609.6 million kroner, a gain from 595.9 million kroner in the prior-year period.

The normalized profit margin fell to 16.3% from 16.5% in the year-earlier period.

Total revenue rose year over year to 3.74 billion kroner from 3.61 billion kroner, and total operating expenses rose on an annual basis to 2.73 billion kroner from 2.66 billion kroner.

Reported net income rose year over year to 771.7 million kroner, or 2.58 kroner per share, from 743.6 million kroner, or 2.43 kroner per share.

As of April 26, US$1 was equivalent to 6.84 Danish kroner.