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Fossil Group profit beats consensus by 54.9% in fiscal Q3

Fossil Group Inc. said its normalized net income for the fiscal third quarter ended Oct. 1 came to 48 cents per share, compared with the S&P Capital IQ consensus estimate of 31 cents per share.

EPS fell 51.5% year over year from 99 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $23.2 million, a decrease of 51.5% from $47.8 million in the prior-year period.

The normalized profit margin fell to 3.1% from 6.2% in the year-earlier period.

Total revenue decreased on an annual basis to $738.0 million from $771.3 million, and total operating expenses totaled $692.3 million, compared with $692.5 million in the year-earlier period.

Reported net income fell 69.7% year over year to $17.4 million, or 36 cents per share, from $57.4 million, or $1.19 per share.