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Cherokee profit beats consensus by 49.2% in fiscal Q1

Cherokee Inc. said its normalized net income for the fiscal first quarter ended May 3 amounted to 37 cents per share, compared with the S&P Capital IQ consensus estimate of 25 cents per share.

EPS rose 93.8% year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.1 million, an increase of 93.9% from $1.6 million in the year-earlier period.

The normalized profit margin climbed to 30.9% from 19.7% in the year-earlier period.

Total revenue grew 23.7% year over year to $10.0 million from $8.1 million, and total operating expenses fell 10.8% on an annual basis to $4.8 million from $5.4 million.

Reported net income grew on an annual basis to $3.6 million, or 43 cents per share, from $1.6 million, or 19 cents per share.