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Bluestem Group fiscal Q3 profit climbs 63.7% YOY

Bluestem Group Inc. said its normalized net income for the fiscal third quarter ended Oct. 30 was 6 cents per share, a gain of 19.3% from 5 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.7 million, an increase of 63.7% from $4.7 million in the prior-year period.

The normalized profit margin declined to 1.0% from 35.6% in the year-earlier period.

Total revenue climbed year over year to $482.3 million from $13.2 million, and total operating expenses increased year over year to $469.9 million from $6.3 million.

Reported net income came to a loss of $3.0 million, or a loss of 2 cents per share, compared to income of $6.1 million, or 6 cents per share, in the prior-year period.