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Black Box profit misses consensus by 34.6% in fiscal Q3

Black Box Corp. said its normalized net income for the fiscal third quarter ended Dec. 26, 2015, was 24 cents per share, compared with the S&P Capital IQ consensus estimate of 36 cents per share.

EPS declined 24.6% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.6 million, a decrease of 24.9% from $4.8 million in the year-earlier period.

The normalized profit margin fell to 1.6% from 1.9% in the year-earlier period.

Total revenue decreased 12.2% on an annual basis to $222.5 million from $253.3 million, and total operating expenses declined 11.8% from the prior-year period to $215.4 million from $244.3 million.

Reported net income grew 8.3% on an annual basis to $5.7 million, or 37 cents per share, from $5.3 million, or 34 cents per share.