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Lululemon Athletica fiscal Q4 profit climbs YOY

Lululemon Athletica Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 1 came to 70 cents per share, compared with the S&P Capital IQ consensus estimate of 73 cents per share.

EPS increased year over year from 67 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $99.3 million, a gain from $97.3 million in the year-earlier period.

The normalized profit margin declined to 16.5% from 18.7% in the year-earlier period.

Total revenue climbed 15.6% year over year to $602.5 million from $521.0 million, and total operating expenses increased 17.6% year over year to $451.7 million from $384.2 million.

Reported net income increased year over year to $112.0 million, or 78 cents per share, from $109.6 million, or 75 cents per share.

For the year, the company's normalized net income totaled $1.66 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.83.

EPS declined 6.5% from $1.77 in the prior year.

Normalized net income was $239.5 million, a decline of 7.6% from $259.1 million in the prior year.

Full-year total revenue grew 12.9% year over year to $1.80 billion from $1.59 billion, and total operating expenses increased 19.0% year over year to $1.43 billion from $1.20 billion.

The company said reported net income fell 14.1% on an annual basis to $239.5 million, or $1.66 per share, in the full year, from $278.9 million, or $1.91 per share.