Haverty Furniture Cos. Inc. said its normalized net income for the first quarter came to 27 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.
In the prior-year period, the per-share result was a profit of 27 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.2 million, compared with $6.2 million in the prior-year period.
The normalized profit margin declined to 3.2% from 3.4% in the year-earlier period.
Total revenue grew 5.3% on an annual basis to $191.4 million from $181.8 million, and total operating expenses climbed 5.5% from the prior-year period to $181.0 million from $171.6 million.
Reported net income totaled $6.2 million, or 27 cents per share, compared to $6.2 million, or 27 cents per share, in the prior-year period.
