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Hooker Furniture fiscal Q2 profit climbs 32.4% YOY

Hooker Furniture Corp. said its normalized net income for the fiscal second quarter ended Aug. 3 amounted to 20 cents per share, compared with the S&P Capital IQ consensus estimate of 23 cents per share.

EPS rose 32.2% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.2 million, a gain of 32.4% from $1.6 million in the prior-year period.

The normalized profit margin increased to 3.9% from 3.0% in the year-earlier period.

Total revenue came to $54.9 million, compared with $55.3 million in the year-earlier period, and total operating expenses declined year over year to $51.5 million from $52.7 million.

Reported net income grew 31.4% year over year to $2.3 million, or 21 cents per share, from $1.7 million, or 16 cents per share.