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Steven Madden Q1 profit climbs 31.6% YOY

Steven Madden Ltd. said its first-quarter normalized net income was 43 cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS climbed 36.2% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $24.8 million, an increase of 31.6% from $18.8 million in the year-earlier period.

The normalized profit margin increased to 6.8% from 5.7% in the year-earlier period.

Total revenue increased 11.2% year over year to $366.4 million from $329.4 million, and total operating expenses increased 9.1% year over year to $326.9 million from $299.5 million.

Reported net income decreased 13.3% on an annual basis to $20.4 million, or 35 cents per share, from $23.5 million, or 39 cents per share.