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Vera Bradley fiscal Q3 profit falls 45.5% YOY

Vera Bradley Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 amounted to 21 cents per share, compared with the S&P Capital IQ consensus estimate of 19 cents per share.

EPS fell 45.6% year over year from 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.4 million, a decline of 45.5% from $15.4 million in the prior-year period.

The normalized profit margin declined to 6.7% from 11.9% in the year-earlier period.

Total revenue fell year over year to $125.2 million from $128.9 million, and total operating expenses increased 7.1% on an annual basis to $111.6 million from $104.2 million.

Reported net income fell 46.1% from the prior-year period to $8.6 million, or 21 cents per share, from $15.9 million, or 39 cents per share.