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Park Lawn profit misses consensus by 46.4% in Q3

Park Lawn Corp. said its normalized net income for the third quarter was 9 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS declined 20.5% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$707,860, an increase of 9.8% from C$644,810 in the prior-year period.

The normalized profit margin declined to 4.1% from 8.6% in the year-earlier period.

Total revenue grew year over year to C$17.3 million from C$7.5 million, and total operating expenses climbed from the prior-year period to C$15.7 million from C$6.3 million.

Reported net income decreased 17.3% year over year to C$752,080, or 9 cents per share, from C$909,750, or 16 cents per share.