Transat A. T. Inc. said its normalized net income for the fiscal second quarter ended April 30 was 51 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 42 cents per share.
The per-share result swung to a profit from the prior-year loss of 16 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$19.7 million, compared with a loss of C$6.1 million in the year-earlier period.
The normalized profit margin rose to 2.4% from negative 0.5% in the year-earlier period.
Total revenue fell 9.0% on an annual basis to C$1.02 billion from C$1.12 billion, and total operating expenses fell 12.6% year over year to C$988.8 million from C$1.13 billion.
Reported net income came to C$24.8 million, or 64 cents per share, compared to a loss of C$7.8 million, or a loss of 20 cents per share, in the prior-year period.
