Trans World Entertainment Corp. said its normalized net income for the fiscal fourth quarter ended Jan. 31 came to 23 cents per share, a decline from 24 cents per share in the fourth quarter ended Feb. 1, 2014.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.3 million, a decrease of 6.7% from $7.9 million in the fourth quarter ended Feb. 1, 2014.
The normalized profit margin climbed to 5.9% from 5.6% in the year-earlier period.
Total revenue decreased 8.8% year over year to $126.9 million from $139.2 million, and total operating expenses decreased 9.0% on an annual basis to $114.7 million from $126.1 million.
Reported net income decreased year over year to $11.9 million, or 37 cents per share, from $12.5 million, or 38 cents per share.
For the year, the company's normalized net income totaled 4 cents per share, a decline of 77.4% from 16 cents per share in the prior year.
Normalized net income was $1.2 million, a decrease of 78.1% from $5.4 million in the prior year.
Full-year total revenue decreased 8.9% from the prior-year period to $358.5 million from $393.7 million, and total operating expenses decreased 7.4% on an annual basis to $354.7 million from $383.1 million.
The company said reported net income fell 76.7% year over year to $1.9 million, or 6 cents per share, in the full year, from $8.2 million, or 25 cents per share.
