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Luxottica Q1 profit climbs 34.3% YOY

Luxottica Group SpA said its first-quarter normalized net income amounted to 43 euro cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS rose 33.5% year over year from 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €206.3 million, a gain of 34.3% from €153.6 million in the prior-year period.

The normalized profit margin increased to 9.3% from 8.3% in the year-earlier period.

Total revenue rose 19.9% on an annual basis to €2.21 billion from €1.84 billion, and total operating expenses climbed 17.8% from the prior-year period to €1.85 billion from €1.57 billion.

Reported net income grew 34.2% from the prior-year period to €211.4 million, or 44 cents per share, from €157.5 million, or 33 cents per share.