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MATAS profit misses consensus by 27.0% in fiscal Q1

Matas A/S said its normalized net income for the fiscal first quarter ended June 30 came to 1.76 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 2.41 kroner per share.

EPS climbed 25.1% year over year from 1.41 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 70.7 million kroner, a gain of 23.5% from 57.3 million kroner in the prior-year period.

The normalized profit margin increased to 8.6% from 6.9% in the year-earlier period.

Total revenue came to 826.5 million kroner, compared with 827.2 million kroner in the prior-year period, and total operating expenses decreased on an annual basis to 707.8 million kroner from 715.9 million kroner.

Reported net income grew 27.8% from the prior-year period to 86.4 million kroner, or 2.15 kroner per share, from 67.6 million kroner, or 1.66 kroner per share.

As of Aug. 28, US$1 was equivalent to 6.65 Danish kroner.