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Cavco Industries fiscal Q3 profit climbs 8.8% YOY

Cavco Industries Inc. said its normalized net income for the fiscal third quarter ended Dec. 27, 2014, was 64 cents per share, compared with the S&P Capital IQ consensus estimate of 60 cents per share.

EPS rose 8.5% year over year from 59 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.8 million, a gain of 8.8% from $5.3 million in the year-earlier period.

The normalized profit margin rose to 3.9% from 3.8% in the year-earlier period.

Total revenue grew 6.2% year over year to $146.9 million from $138.3 million, and total operating expenses rose 6.3% on an annual basis to $138.2 million from $130.0 million.

Reported net income increased 12.4% on an annual basis to $6.7 million, or 74 cents per share, from $5.9 million, or 66 cents per share.