Movado Group Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 came to 80 cents per share, compared with the S&P Capital IQ consensus estimate of 86 cents per share.
In the prior-year period, the per-share result came in at a profit of 81 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $20.6 million, a decrease from $20.8 million in the year-earlier period.
The normalized profit margin declined to 10.9% from 11.0% in the year-earlier period.
Total revenue totaled $188.6 million, compared with $189.7 million in the year-earlier period, and total operating expenses came to $155.2 million, compared with $155.6 million in the prior-year period.
Reported net income fell year over year to $22.3 million, or 87 cents per share, from $23.0 million, or 89 cents per share.
