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Assa Abloy profit misses consensus by 16.8% in Q3

Assa Abloy AB said its normalized net income for the third quarter was 1.64 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 1.97 kronor per share.

EPS increased year over year from 1.60 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.82 billion kronor, an increase from 1.78 billion kronor in the year-earlier period.

The normalized profit margin fell to 9.8% from 9.9% in the year-earlier period.

Total revenue climbed year over year to 18.50 billion kronor from 18.02 billion kronor, and total operating expenses climbed on an annual basis to 15.45 billion kronor from 15.04 billion kronor.

Reported net income increased from the prior-year period to 2.15 billion kronor, or 1.94 kronor per share, from 2.10 billion kronor, or 1.89 kronor per share.

As of Oct. 20, US$1 was equivalent to 8.16 Swedish kronor.