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Jean Coutu Group profit misses consensus by 19.7% in fiscal Q3

Jean Coutu Group (PJC) Inc. said its normalized net income for the fiscal third quarter ended Nov. 29, 2014, came to 26 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 32 cents per share.

EPS increased 5.9% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$48.0 million, a decline of 5.7% from C$50.9 million in the year-earlier period.

The normalized profit margin declined to 6.7% from 7.4% in the year-earlier period.

Total revenue grew year over year to C$712.2 million from C$688.7 million, and total operating expenses rose from the prior-year period to C$635.5 million from C$608.8 million.

Reported net income fell 10.9% year over year to C$56.0 million, or 30 cents per share, from C$62.9 million, or 30 cents per share.