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Prada profit misses consensus by 41.3% in fiscal Q1

Prada SpA said its normalized net income for the fiscal first quarter ended April 30 came to 2 euro cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS decreased 39.1% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €54.9 million, a decrease of 39.1% from €90.1 million in the year-earlier period.

The normalized profit margin fell to 6.6% from 11.6% in the year-earlier period.

Total revenue climbed 6.5% on an annual basis to €828.2 million from €777.7 million, and total operating expenses grew 18.7% on an annual basis to €737.5 million from €621.4 million.

Reported net income fell 44.2% on an annual basis to €58.7 million, or 2 cents per share, from €105.3 million, or 4 cents per share.