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Bebe Stores swings to profit in fiscal Q2

Bebe Stores Inc. said its normalized net income for the fiscal second quarter ended Jan. 3 amounted to 3 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 20 cents per share.

The per-share result swung to a profit from the prior-year loss of 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $214,380, compared with a loss of $2.3 million in the prior-year period.

The normalized profit margin climbed to 0.2% from negative 1.9% in the year-earlier period.

Total revenue increased year over year to $128.9 million from $123.3 million, and total operating expenses climbed on an annual basis to $128.6 million from $127.1 million.

Reported net income came to a loss of $20,000, or a loss of 0 cents per share, compared to a loss of $4.7 million, or a loss of 60 cents per share, in the prior-year period.