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New York & Co. swings to profit in fiscal Q2

New York & Co. Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 came to $59,380, compared with a loss of $1.3 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 0.0% from negative 0.6% in the year-earlier period.

Total revenue grew on an annual basis to $226.1 million from $223.1 million, and total operating expenses came to $225.9 million, compared with $225.0 million in the prior-year period.

Reported net income came to a loss of $147,000, or a loss of 0 cents per share, compared to a loss of $2.5 million, or a loss of 4 cents per share, in the prior-year period.