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SkiStar fiscal Q3 profit climbs 44.2% YOY

SkiStar AB said its normalized net income for the fiscal third quarter ended May 31 came to 3.65 Swedish kronor per share, compared with the S&P Capital IQ consensus estimate of 3.71 kronor per share.

EPS rose 44.2% year over year from 2.53 kronor.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 143.1 million kronor, an increase of 44.2% from 99.3 million kronor in the prior-year period.

The normalized profit margin climbed to 21.7% from 16.1% in the year-earlier period.

Total revenue grew 7.7% year over year to 664.9 million kronor from 617.3 million kronor, and total operating expenses fell on an annual basis to 439.6 million kronor from 455.9 million kronor.

Reported net income increased 21.3% on an annual basis to 176.3 million kronor, or 4.50 kronor per share, from 145.4 million kronor, or 3.71 kronor per share.

As of June 18, US$1 was equivalent to 8.11 Swedish kronor.