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Dustin Group profit misses consensus by 31.2% in fiscal Q3

Dustin Group AB said its normalized net income for the fiscal third quarter ended May 31 came to 54 Swedish öre per share, compared with the S&P Capital IQ consensus estimate of 78 öre per share.

EPS rose 37.6% year over year from 39 öre.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 40.9 million kronor, an increase of 58.6% from 25.8 million kronor in the year-earlier period.

The normalized profit margin climbed to 2.0% from 1.4% in the year-earlier period.

Total revenue came to 1.92 billion kronor, compared with 1.90 billion kronor in the prior-year period, and total operating expenses came to 1.85 billion kronor, compared with 1.84 billion kronor in the prior-year period.

Reported net income fell 71.3% on an annual basis to 38.9 million kronor, or 51 öre per share, from 135.5 million kronor, or 2.05 kronor per share.

As of July 6, US$1 was equivalent to 8.45 Swedish kronor.