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La-Z-Boy fiscal Q2 profit climbs 17.5% YOY

La-Z-Boy Inc. said its normalized net income for the fiscal second quarter ended Oct. 25 came to 35 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.

EPS increased 18.7% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $18.6 million, an increase of 17.5% from $15.8 million in the year-earlier period.

The normalized profit margin increased to 5.1% from 4.5% in the year-earlier period.

Total revenue increased year over year to $365.6 million from $352.3 million, and total operating expenses rose on an annual basis to $335.4 million from $326.3 million.

Reported net income increased 11.4% from the prior-year period to $19.0 million, or 36 cents per share, from $17.0 million, or 32 cents per share.