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Digi International profit beats consensus by 54.0% in fiscal Q1

Digi International Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to 10 cents per share, compared with the S&P Capital IQ consensus estimate of 7 cents per share.

EPS climbed year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.7 million, a gain from $556,250 in the prior-year period.

The normalized profit margin climbed to 5.2% from 1.2% in the year-earlier period.

Total revenue grew 6.4% on an annual basis to $50.3 million from $47.2 million, and total operating expenses decreased on an annual basis to $46.2 million from $46.8 million.

Reported net income rose from the prior-year period to $3.1 million, or 12 cents per share, from $978,480, or 4 cents per share.