Reitmans (Canada) Ltd said its normalized net income for the fiscal fourth quarter ended Jan. 31 was 4 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.
The per-share result swung to a profit from the prior-year loss of 3 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$2.2 million, compared with a loss of C$2.2 million in the fourth quarter ended Feb. 1, 2014.
The normalized profit margin declined to negative 1.2% from negative 0.9% in the year-earlier period.
Total revenue fell on an annual basis to C$236.3 million from C$240.7 million, and total operating expenses declined 5.8% year over year to C$230.3 million from C$244.4 million.
Reported net income totaled C$4.5 million, or 7 cents per share, compared to a loss of C$2.6 million, or a loss of 4 cents per share, in the fourth quarter ended Feb. 1, 2014.
For the year, the company's normalized net income totaled 21 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 17 cents.
EPS rose 8.2% from 20 cents in the prior year.
Normalized net income was C$13.6 million, a rise of 8.2% from C$12.6 million in the prior year.
Full-year total revenue declined from the prior-year period to C$939.4 million from C$960.4 million, and total operating expenses decreased on an annual basis to C$918.7 million from C$947.5 million.
The company said reported net income grew 23.5% year over year to C$13.6 million, or 21 cents per share, in the full year, from C$11.0 million, or 17 cents per share.
