Oil-Dri Corp. of America said its normalized net income for the fiscal second quarter ended Jan. 31 was 35 cents per share, compared with the S&P Capital IQ consensus estimate of 52 cents per share.
EPS decreased 30.0% year over year from 49 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.4 million, a decline of 29.7% from $3.5 million in the year-earlier period.
The normalized profit margin dropped to 3.8% from 5.0% in the year-earlier period.
Total revenue decreased 6.7% year over year to $64.6 million from $69.3 million, and total operating expenses fell 5.0% on an annual basis to $60.4 million from $63.6 million.
Reported net income declined 34.8% on an annual basis to $2.7 million, or 39 cents per share, from $4.2 million, or 60 cents per share.
