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Urban Outfitters profit misses consensus by 18.9% in fiscal Q1

Urban Outfitters Inc. said its normalized net income for the fiscal first quarter ended April 30 was 24 cents per share, compared with the S&P Capital IQ consensus estimate of 30 cents per share.

EPS decreased 7.8% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $32.5 million, a decline of 16.1% from $38.8 million in the prior-year period.

The normalized profit margin declined to 4.4% from 5.6% in the year-earlier period.

Total revenue grew 7.7% year over year to $739.0 million from $686.3 million, and total operating expenses increased 9.5% year over year to $686.0 million from $626.5 million.

Reported net income fell 12.5% on an annual basis to $33.2 million, or 25 cents per share, from $37.9 million, or 26 cents per share.