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Trans World Entertainment fiscal Q4 profit falls YOY

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.