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Hooker Furniture fiscal Q3 profit climbs 34.3% YOY

Hooker Furniture Corp. said its normalized net income for the fiscal third quarter ended Nov. 1 was 39 cents per share, compared with the S&P Capital IQ consensus estimate of 38 cents per share.

EPS climbed 33.9% year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.2 million, an increase of 34.3% from $3.1 million in the prior-year period.

The normalized profit margin rose to 6.4% from 4.9% in the year-earlier period.

Total revenue grew on an annual basis to $65.3 million from $63.2 million, and total operating expenses totaled $58.7 million, compared with $58.3 million in the prior-year period.

Reported net income grew 43.8% year over year to $4.6 million, or 43 cents per share, from $3.2 million, or 30 cents per share.