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MQ Holding profit misses consensus by 19.8% in fiscal Q1

MQ Holding AB said its normalized net income for the fiscal first quarter ended Nov. 30 came to 66 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 82 öre per share.

EPS rose 14.2% year over year from 58 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 23.1 million kronor, an increase of 15.6% from 20.0 million kronor in the year-earlier period.

The normalized profit margin rose to 6.5% from 5.4% in the year-earlier period.

Total revenue decreased year over year to 357.0 million kronor from 372.0 million kronor, and total operating expenses decreased 6.2% on an annual basis to 319.0 million kronor from 340.0 million kronor.

Reported net income rose 16.7% year over year to 29.2 million kronor, or 82 öre per share, from 25.0 million kronor, or 72 öre per share.

As of Dec. 18, US$1 was equivalent to 7.70 Swedish kronor.