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MATAS profit misses consensus by 40.7% in fiscal Q2

Matas A/S said its normalized net income for the fiscal second quarter ended Sept. 30 came to 1.44 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 2.44 kroner per share.

EPS rose 5.0% year over year from 1.38 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 58.5 million kroner, a gain from 55.9 million kroner in the year-earlier period.

The normalized profit margin climbed to 7.5% from 7.0% in the year-earlier period.

Total revenue decreased on an annual basis to 783.2 million kroner from 792.6 million kroner, and total operating expenses fell year over year to 679.2 million kroner from 686.3 million kroner.

Reported net income increased 8.4% year over year to 71.3 million kroner, or 1.76 kroner per share, from 65.8 million kroner, or 1.62 kroner per share.

As of Nov. 19, US$1 was equivalent to 6.95 Danish kroner.