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Urban Outfitters fiscal Q3 profit falls 11.8% YOY

Urban Outfitters Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 amounted to 38 cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS declined 7.0% year over year from 41 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $44.9 million, a decrease of 11.8% from $50.9 million in the year-earlier period.

The normalized profit margin dropped to 5.2% from 6.2% in the year-earlier period.

Total revenue increased year over year to $862.5 million from $825.3 million, and total operating expenses increased 6.3% from the prior-year period to $792.2 million from $744.9 million.

Reported net income fell 9.6% from the prior-year period to $47.0 million, or 40 cents per share, from $52.0 million, or 42 cents per share.