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G-III Apparel profit beats consensus by 78.0% in fiscal Q2

G-III Apparel Group said its normalized net income for the fiscal second quarter ended July 31 came to 15 cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.

EPS increased 66.4% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.3 million, an increase of 73.7% from $3.6 million in the year-earlier period.

The normalized profit margin climbed to 1.5% from 1.2% in the year-earlier period.

Total revenue increased 39.4% year over year to $424.0 million from $304.2 million, and total operating expenses rose 38.9% on an annual basis to $412.5 million from $297.0 million.

Reported net income rose 78.0% from the prior-year period to $6.3 million, or 14 cents per share, from $3.5 million, or 9 cents per share.