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Vince Holding profit beats consensusin fiscal Q3


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Vince Holding profit beats consensusin fiscal Q3

Vince Holding Corp. said its normalized net income for the fiscal third quarter ended Oct. 31 amounted to $1.70 per share, compared with the S&P Capital IQ consensus estimate of 68 cents per share.

EPS fell 53.7% year over year from $3.68.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.3 million, a decrease of 55.5% from $14.1 million in the third quarter ended Nov. 1, 2014.

The normalized profit margin dropped to 7.9% from 13.7% in the year-earlier period.

Total revenue fell 21.5% year over year to $80.9 million from $102.9 million, and total operating expenses declined 12.3% from the prior-year period to $68.5 million from $78.1 million.

Reported net income fell 56.1% year over year to $5.9 million, or $1.60 per share, from $13.4 million, or $3.50 per share.