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Cherokee fiscal Q1 profit climbs 14.0% YOY

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Cherokee fiscal Q1 profit climbs 14.0% YOY

Cherokee Inc. said its normalized net income for the fiscal first quarter ended May 2 amounted to 40 cents per share, compared with the S&P Capital IQ consensus estimate of 36 cents per share.

EPS rose 9.6% year over year from 37 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.5 million, a gain of 14.0% from $3.1 million in the prior-year period.

The normalized profit margin climbed to 34.3% from 30.9% in the year-earlier period.

Total revenue increased year over year to $10.2 million from $10.0 million, and total operating expenses decreased 7.4% from the prior-year period to $4.4 million from $4.8 million.

Reported net income totaled $3.6 million, or 41 cents per share, compared to $3.6 million, or 43 cents per share, in the prior-year period.