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Hibbett Sports fiscal Q3 profit falls YOY

Hibbett Sports Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 came to 66 cents per share, compared with the S&P Capital IQ consensus estimate of 62 cents per share.

EPS increased year over year from 65 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.7 million, a decline from $17.1 million in the prior-year period.

The normalized profit margin fell to 7.7% from 8.2% in the year-earlier period.

Total revenue rose 5.0% year over year to $218.3 million from $208.0 million, and total operating expenses rose 6.1% on an annual basis to $191.5 million from $180.5 million.

Reported net income declined on an annual basis to $17.0 million, or 67 cents per share, from $17.3 million, or 66 cents per share.