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Express profit beats consensus by 25.8% in fiscal Q3

Express Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 was 20 cents per share, compared with the S&P Capital IQ consensus estimate of 16 cents per share.

EPS fell 16.0% year over year from 23 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.6 million, a decline of 16.0% from $19.8 million in the prior-year period.

The normalized profit margin dropped to 3.3% from 3.9% in the year-earlier period.

Total revenue decreased year over year to $497.6 million from $503.8 million, and total operating expenses came to $464.8 million, compared with $467.1 million in the year-earlier period.

Reported net income decreased 26.1% year over year to $14.4 million, or 17 cents per share, from $19.5 million, or 23 cents per share.