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DSW profit beats consensus by 19.9% in fiscal Q4

DSW Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 amounted to 33 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

EPS increased 53.3% year over year from 22 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $29.9 million, a gain of 48.7% from $20.1 million in the fourth quarter ended Feb. 1, 2014.

The normalized profit margin climbed to 5.0% from 3.5% in the year-earlier period.

Total revenue rose 11.9% on an annual basis to $640.2 million from $572.3 million, and total operating expenses increased 10.0% year over year to $594.8 million from $540.8 million.

Reported net income increased 9.0% year over year to $31.2 million, or 35 cents per share, from $28.6 million, or 30 cents per share.

For the year, the company's normalized net income totaled $1.73 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.64.

EPS rose from $1.66 in the prior year.

Normalized net income was $157.0 million, a rise from $152.9 million in the prior year.

Full-year total revenue increased 5.4% from the prior-year period to $2.50 billion from $2.37 billion, and total operating expenses rose 5.9% on an annual basis to $2.25 billion from $2.13 billion.

The company said reported net income came to $153.1 million, or $1.69 per share, in the full year, compared with $151.6 million, or $1.65 per share, the prior year.