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Spectrum Brands fiscal Q1 profit climbs 12.4% YOY

Spectrum Brands Holdings Inc. said its normalized net income for the fiscal first quarter ended Dec. 28, 2014, was $1.02 per share, compared with the S&P Capital IQ consensus estimate of $1.06 per share.

EPS rose 11.6% year over year from 91 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $54.0 million, a gain of 12.4% from $48.1 million in the prior-year period.

The normalized profit margin climbed to 5.1% from 4.4% in the year-earlier period.

Total revenue fell on an annual basis to $1.07 billion from $1.10 billion, and total operating expenses fell from the prior-year period to $935.9 million from $965.7 million.

Reported net income fell 8.0% on an annual basis to $49.9 million, or 94 cents per share, from $54.3 million, or $1.03 per share.