Duluth Holdings Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 was 15 cents per share, an increase of 37.9% from 11 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.6 million, a gain of 39.6% from $2.6 million in the year-earlier period.
The normalized profit margin fell to 6.9% from 7.1% in the year-earlier period.
Total revenue rose 44.1% year over year to $51.7 million from $35.9 million, and total operating expenses increased 44.8% from the prior-year period to $45.9 million from $31.7 million.
Reported net income rose 40.1% year over year to $3.4 million, or 14 cents per share, from $2.5 million, or 10 cents per share.