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Cato fiscal Q3 profit climbs 10.7% YOY

Cato Corp. said its normalized net income for the fiscal third quarter ended Nov. 1 was 16 cents per share, compared with the S&P Capital IQ consensus estimate of 16 cents per share.

EPS rose 16.3% year over year from 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.5 million, an increase of 10.7% from $4.0 million in the prior-year period.

The normalized profit margin climbed to 2.1% from 2.0% in the year-earlier period.

Total revenue increased 7.4% on an annual basis to $216.0 million from $201.0 million, and total operating expenses increased 7.3% on an annual basis to $209.5 million from $195.3 million.

Reported net income grew 12.0% from the prior-year period to $5.5 million, or 20 cents per share, from $4.9 million, or 17 cents per share.