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Transat A. T. profit misses consensus by 31.1% in fiscal Q3

Transat A. T. Inc. said its normalized net income for the fiscal third quarter ended July 31 amounted to 30 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS rose 9.7% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$11.2 million, an increase from C$10.7 million in the year-earlier period.

The normalized profit margin increased to 1.7% from 1.5% in the year-earlier period.

Total revenue fell 5.9% year over year to C$663.6 million from C$704.8 million, and total operating expenses decreased 6.3% from the prior-year period to C$647.2 million from C$690.8 million.

Reported net income fell 41.2% on an annual basis to C$7.7 million, or 21 cents per share, from C$13.1 million, or 34 cents per share.