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Michael Kors fiscal Q3 profit climbs 21.5% YOY

Michael Kors Holdings Ltd. said its normalized net income for the fiscal third quarter ended Dec. 27, 2014, was $1.27 per share, compared with the S&P Capital IQ consensus estimate of $1.33 per share.

EPS increased 21.8% year over year from $1.04.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $260.6 million, an increase of 21.5% from $214.5 million in the year-earlier period.

The normalized profit margin fell to 19.8% from 21.2% in the year-earlier period.

Total revenue rose 29.9% on an annual basis to $1.31 billion from $1.01 billion, and total operating expenses climbed 34.0% from the prior-year period to $896.2 million from $669.0 million.

Reported net income grew 33.0% on an annual basis to $304.4 million, or $1.48 per share, from $228.8 million, or $1.11 per share.