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Skechers profit beats consensus by 21.8% in Q2

Skechers USA Inc. said its normalized net income for the second quarter was 41 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.

EPS climbed year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $63.0 million, an increase from $28.1 million in the prior-year period.

The normalized profit margin increased to 7.8% from 4.8% in the year-earlier period.

Total revenue rose 36.5% year over year to $804.1 million from $588.9 million, and total operating expenses grew 29.3% on an annual basis to $691.8 million from $535.1 million.

Reported net income rose from the prior-year period to $79.6 million, or 52 cents per share, from $34.6 million, or 23 cents per share.