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Cato fiscal Q4 profit climbs 64.4% YOY

Cato Corp. said its normalized net income for the fiscal fourth quarter ended Jan. 31 was 31 cents per share, compared with the S&P Capital IQ consensus estimate of 27 cents per share.

EPS climbed 74.3% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.5 million, an increase of 64.4% from $5.2 million in the fourth quarter ended Feb. 1, 2014.

The normalized profit margin rose to 3.5% from 2.4% in the year-earlier period.

Total revenue rose 10.4% year over year to $240.1 million from $217.6 million, and total operating expenses increased 8.3% from the prior-year period to $227.3 million from $209.9 million.

Reported net income rose year over year to $9.0 million, or 32 cents per share, from $3.7 million, or 13 cents per share.

For the year, the company's normalized net income totaled $2.12 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.09.

EPS rose 12.5% from $1.88 in the prior year.

Normalized net income was $58.4 million, a gain of 7.9% from $54.2 million in the prior year.

Full-year total revenue increased 7.3% year over year to $986.9 million from $920.0 million, and total operating expenses grew 7.2% year over year to $896.6 million from $836.3 million.

The company said reported net income grew 10.9% on an annual basis to $59.3 million, or $2.15 per share, in the full year, from $53.5 million, or $1.86 per share.