Duluth Holdings Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 was 4 cents per share, compared with the S&P Capital IQ consensus estimate of 0 cents per share.

EPS decreased 50.9% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $918,000, a decline of 50.7% from $1.9 million in the prior-year period.

The normalized profit margin dropped to 1.7% from 4.4% in the year-earlier period.

Total revenue rose 29.9% year over year to $55.3 million from $42.6 million, and total operating expenses rose 36.0% from the prior-year period to $53.6 million from $39.5 million.

Reported net income declined 49.8% on an annual basis to $961,040, or 4 cents per share, from $1.9 million, or 8 cents per share.