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Tuesday Morning profit misses consensus by 39.8% in fiscal Q2

Tuesday Morning Corp. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 34 cents per share, compared with the S&P Capital IQ consensus estimate of 57 cents per share.

EPS rose 18.3% year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $14.9 million, an increase of 19.8% from $12.5 million in the year-earlier period.

The normalized profit margin climbed to 5.0% from 4.4% in the year-earlier period.

Total revenue climbed 5.5% on an annual basis to $301.4 million from $285.8 million, and total operating expenses rose year over year to $277.2 million from $265.4 million.

Reported net income grew 33.4% year over year to $23.6 million, or 54 cents per share, from $17.7 million, or 41 cents per share.