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Husqvarna Q1 profit climbs 30.0% YOY

Husqvarna AB said its first-quarter normalized net income came to 1.15 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.34 kronor per share.

EPS increased 29.8% year over year from 88 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 658.6 million kronor, an increase of 30.0% from 506.5 million kronor in the year-earlier period.

The normalized profit margin rose to 6.0% from 5.2% in the year-earlier period.

Total revenue increased 12.8% on an annual basis to 10.93 billion kronor from 9.69 billion kronor, and total operating expenses rose 11.8% from the prior-year period to 9.82 billion kronor from 8.78 billion kronor.

Reported net income rose 27.1% on an annual basis to 786.1 million kronor, or 1.37 kronor per share, from 618.7 million kronor, or 1.08 kronor per share.

As of April 21, US$1 was equivalent to 8.65 Swedish kronor.