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KP Tissue profit misses consensus by 73.6% in fiscal Q2

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KP Tissue profit misses consensus by 73.6% in fiscal Q2

KP Tissue Inc. said its normalized net income for the fiscal second quarter ended June 26 amounted to 3 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

The per-share result swung to a profit from the prior-year loss of 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$293,130, compared with a loss of C$568,130 in the prior-year period.

Reported net income came to a loss of C$605,000, or a loss of 7 cents per share, compared to a loss of C$947,000, or a loss of 11 cents per share, in the prior-year period.