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Oxford Industries profit beats consensus by 20.4% in fiscal Q1

Oxford Industries Inc. said its normalized net income for the fiscal first quarter ended May 3 amounted to $1.04 per share, compared with the S&P Capital IQ consensus estimate of 87 cents per share.

EPS rose 10.1% year over year from 95 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $17.2 million, an increase of 9.0% from $15.7 million in the year-earlier period.

The normalized profit margin increased to 8.2% from 6.7% in the year-earlier period.

Total revenue climbed 10.0% on an annual basis to $257.6 million from $234.2 million, and total operating expenses climbed 10.1% from the prior-year period to $229.1 million from $208.1 million.

Reported net income grew 9.9% year over year to $15.0 million, or 91 cents per share, from $13.6 million, or 82 cents per share.