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Unique Fabricating profit misses consensus by 36.2% in fiscal Q2

Unique Fabricating Inc. said its normalized net income for the fiscal second quarter ended July 3 amounted to 12 cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS fell 43.9% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.2 million, a decrease of 20.9% from $1.6 million in the second quarter ended June 28, 2015.

The normalized profit margin dropped to 2.9% from 4.4% in the year-earlier period.

Total revenue rose 17.9% year over year to $42.0 million from $35.7 million, and total operating expenses climbed 21.2% on an annual basis to $39.2 million from $32.3 million.

Reported net income fell 64.7% from the prior-year period to $594,350, or 6 cents per share, from $1.7 million, or 24 cents per share.