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Tiffany & Co. fiscal Q2 profit climbs 18.6% YOY

Tiffany & Co. said its normalized net income for the fiscal second quarter ended July 31 amounted to 93 cents per share, compared with the S&P Capital IQ consensus estimate of 85 cents per share.

EPS climbed 17.6% year over year from 79 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $120.2 million, an increase of 18.6% from $101.4 million in the prior-year period.

The normalized profit margin rose to 12.1% from 10.9% in the year-earlier period.

Total revenue increased 7.2% year over year to $992.9 million from $925.9 million, and total operating expenses increased on an annual basis to $784.4 million from $749.0 million.

Reported net income grew 16.7% year over year to $124.7 million, or 96 cents per share, from $106.9 million, or 83 cents per share.