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MAM Software profit misses consensus by 31.4% in fiscal Q2

MAM Software Group Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 3 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

EPS declined 34.0% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $446,250, a decline of 36.6% from $704,380 in the prior-year period.

The normalized profit margin fell to 5.6% from 8.9% in the year-earlier period.

Total revenue totaled $7.9 million, compared with $7.9 million in the prior-year period, and total operating expenses increased 5.9% year over year to $7.1 million from $6.7 million.

Reported net income decreased 17.8% from the prior-year period to $780,350, or 6 cents per share, from $948,850, or 7 cents per share.