La-Z-Boy Inc. said its normalized net income for the fiscal third quarter ended Jan. 24 amounted to 31 cents per share, compared with the S&P Capital IQ consensus estimate of 38 cents per share.
EPS increased year over year from 31 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.4 million, compared with $16.3 million in the year-earlier period.
The normalized profit margin declined to 4.7% from 4.7% in the year-earlier period.
Total revenue rose on an annual basis to $357.9 million from $346.5 million, and total operating expenses grew on an annual basis to $331.7 million from $320.7 million.
Reported net income came to $17.7 million, or 34 cents per share, compared to $17.6 million, or 33 cents per share, in the prior-year period.
