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Rapala VMC profit misses consensus by 26.6% in Q1

Rapala VMC Corp. said its normalized net income for the first quarter was 10 euro cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS climbed 14.1% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €3.9 million, an increase of 13.8% from €3.4 million in the year-earlier period.

The normalized profit margin rose to 5.3% from 5.2% in the year-earlier period.

Total revenue rose 11.6% year over year to €73.9 million from €66.2 million, and total operating expenses rose 10.4% on an annual basis to €64.9 million from €58.8 million.

Reported net income declined 9.3% from the prior-year period to €3.9 million, or 10 cents per share, from €4.3 million, or 11 cents per share.