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Michael Kors fiscal Q4 profit climbs YOY

Michael Kors Holdings Ltd. said its normalized net income for the fiscal fourth quarter ended March 28 amounted to 80 cents per share, compared with the S&P Capital IQ consensus estimate of 91 cents per share.

EPS climbed 6.9% year over year from 75 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $162.2 million, a gain of 4.9% from $154.6 million in the prior-year period.

The normalized profit margin dropped to 15.0% from 16.9% in the year-earlier period.

Total revenue grew 17.8% on an annual basis to $1.08 billion from $917.5 million, and total operating expenses increased 22.9% year over year to $824.0 million from $670.2 million.

Reported net income grew 12.9% year over year to $182.3 million, or 90 cents per share, from $161.5 million, or 78 cents per share.

For the year, the company's normalized net income totaled $3.82 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.29.

EPS rose 24.4% from $3.07 in the prior year.

Normalized net income was $785.4 million, a gain of 24.5% from $630.6 million in the prior year.

Full-year total revenue grew 32.0% year over year to $4.37 billion from $3.31 billion, and total operating expenses rose 35.3% on an annual basis to $3.11 billion from $2.30 billion.

The company said reported net income increased 33.1% year over year to $881.1 million, or $4.28 per share, in the full year, from $662.2 million, or $3.22 per share.