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Prada profit misses consensus by 29.3% in fiscal Q3

Prada SpA said its normalized net income for the fiscal third quarter ended Oct. 31 came to 3 euro cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS fell 46.3% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €72.3 million, a decline of 46.3% from €134.6 million in the year-earlier period.

The normalized profit margin dropped to 9.0% from 15.9% in the year-earlier period.

Total revenue declined 5.6% year over year to €800.7 million from €848.0 million, and total operating expenses increased 7.8% on an annual basis to €677.4 million from €628.6 million.

Reported net income fell 43.9% year over year to €74.5 million, or 3 cents per share, from €132.6 million, or 5 cents per share.