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Vince Holding fiscal Q4 profit climbs 20.4% YOY

Vince Holding Corp. said its normalized net income for the fiscal fourth quarter ended Jan. 31 was $3.02 per share, compared with the S&P Capital IQ consensus estimate of $2.68 per share.

EPS increased 11.1% year over year from $2.72.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $11.5 million, an increase of 20.4% from $9.6 million in the fourth quarter ended Feb. 1, 2014.

The normalized profit margin climbed to 12.2% from 10.9% in the year-earlier period.

Total revenue increased 7.9% on an annual basis to $94.7 million from $87.8 million, and total operating expenses rose 5.1% from the prior-year period to $73.8 million from $70.3 million.

Reported net income grew 22.8% from the prior-year period to $10.3 million, or $2.70 per share, from $8.4 million, or $2.39 per share.

For the year, the company's normalized net income totaled $9.85 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $9.51.

EPS rose 45.3% from $6.78 in the prior year.

Normalized net income was $37.7 million, a rise of 96.6% from $19.2 million in the prior year.

Full-year total revenue rose 18.1% on an annual basis to $340.4 million from $288.2 million, and total operating expenses rose 17.7% on an annual basis to $269.6 million from $229.1 million.

The company said reported net income increased 51.6% on an annual basis to $35.6 million, or $9.30 per share, in the full year, from $23.5 million, or $8.30 per share.