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Billabong International profit misses consensus by 98.8% in fiscal H1

Billabong International Ltd said its normalized net income for the fiscal first half ended Dec. 31, 2014, was 5 Australian cents per share, compared with the S&P Capital IQ consensus estimate of A$4.00 per share.

The per-share result swung to a profit from the prior-year loss of 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$9.6 million, compared with a loss of A$14.4 million in the year-earlier period.

Total revenue came to A$525.8 million, compared with A$527.2 million in the prior-year period, and total operating expenses totaled A$497.7 million, compared with A$496.8 million in the year-earlier period.

Reported net income totaled A$15.2 million, or 8 cents per share, compared to a loss of A$103.2 million, or a loss of A$1.09 per share, in the prior-year period.