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Genesco fiscal Q4 profit climbs 9.2% YOY

Genesco Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 was $2.29 per share, compared with the S&P Capital IQ consensus estimate of $2.39 per share.

EPS climbed 8.5% year over year from $2.11.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $54.4 million, a gain of 9.2% from $49.8 million in the fourth quarter ended Feb. 1, 2014.

The normalized profit margin dropped to 6.1% from 6.3% in the year-earlier period.

Total revenue increased 12.6% on an annual basis to $892.6 million from $792.5 million, and total operating expenses increased 13.1% from the prior-year period to $804.8 million from $711.6 million.

Reported net income increased 22.4% from the prior-year period to $51.7 million, or $2.18 per share, from $42.3 million, or $1.79 per share.

For the year, the company's normalized net income totaled $4.38 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.82.

EPS rose from $4.24 in the prior year.

Normalized net income was $104.0 million, a gain from $100.1 million in the prior year.

Full-year total revenue increased 8.9% on an annual basis to $2.86 billion from $2.62 billion, and total operating expenses increased 9.4% on an annual basis to $2.69 billion from $2.46 billion.

The company said reported net income increased 6.8% year over year to $99.3 million, or $4.19 per share, in the full year, from $93.0 million, or $3.94 per share.