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Spectrum Brands fiscal Q3 profit climbs YOY

Spectrum Brands Legacy Inc. said its normalized net income for the fiscal third quarter ended July 3 came to $1.65 per share, compared with the S&P Capital IQ consensus estimate of $1.69 per share.

EPS increased year over year from 62 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $98.6 million, an increase from $34.9 million in the third quarter ended June 28, 2015.

The normalized profit margin climbed to 7.2% from 2.8% in the year-earlier period.

Total revenue increased 9.1% year over year to $1.36 billion from $1.25 billion, and total operating expenses increased 6.0% from the prior-year period to $1.14 billion from $1.08 billion.

Reported net income increased year over year to $101.9 million, or $1.71 per share, from $44.6 million, or 79 cents per share.