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Cherokee fiscal Q4 profit falls 23.8% YOY

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Cherokee fiscal Q4 profit falls 23.8% YOY

Cherokee Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 amounted to 18 cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS decreased 26.1% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.6 million, a decline of 23.8% from $2.0 million in the fourth quarter ended Feb. 1, 2014.

The normalized profit margin declined to 20.7% from 32.1% in the year-earlier period.

Total revenue increased 18.1% year over year to $7.5 million from $6.4 million, and total operating expenses grew 63.9% year over year to $4.8 million from $3.0 million.

Reported net income rose 80.6% from the prior-year period to $1.7 million, or 19 cents per share, from $926,820, or 11 cents per share.

For the year, the company's normalized net income totaled $1.06 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.14.

EPS rose 36.6% from 78 cents in the prior year.

Normalized net income was $9.1 million, a rise of 38.8% from $6.5 million in the prior year.

Full-year total revenue increased 22.2% year over year to $35.0 million from $28.6 million, and total operating expenses rose 11.1% year over year to $19.6 million from $17.6 million.

The company said reported net income rose 62.3% on an annual basis to $9.8 million, or $1.15 per share, in the full year, from $6.1 million, or 72 cents per share.