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Postmedia Network Canada profit misses consensus by 81.3% in fiscal Q1

Postmedia Network Canada Corp. said its normalized net income for the fiscal first quarter ended Nov. 30, 2015, amounted to C$1.40 per share, compared with the S&P Capital IQ consensus estimate of C$7.50 per share.

The per-share result swung to a profit from the prior-year loss of C$11.53.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$2.6 million, compared with a loss of C$3.1 million in the prior-year period.

The normalized profit margin increased to 1.0% from negative 1.8% in the year-earlier period.

Total revenue climbed 48.1% year over year to C$251.1 million from C$169.5 million, and total operating expenses rose 52.9% year over year to C$224.6 million from C$146.9 million.

Reported net income totaled a loss of C$5.6 million, or a loss of C$3.00 per share, compared to a loss of C$10.5 million, or a loss of C$39.00 per share, in the year-earlier period.