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Flexsteel Industries fiscal Q2 profit climbs 7.2% YOY

Flexsteel Industries Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 63 cents per share, compared with the S&P Capital IQ consensus estimate of 63 cents per share.

EPS climbed 5.1% year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.8 million, an increase of 7.2% from $4.5 million in the prior-year period.

The normalized profit margin rose to 4.2% from 4.0% in the year-earlier period.

Total revenue grew on an annual basis to $114.4 million from $112.5 million, and total operating expenses totaled $106.7 million, compared with $105.7 million in the prior-year period.

Reported net income grew year over year to $4.7 million, or 61 cents per share, from $1.2 million, or 16 cents per share.