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Tile Shop Q2 profit climbs 47.1% YOY

Tile Shop Holdings said its second-quarter normalized net income came to 14 cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS rose 45.6% year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.3 million, a gain of 47.1% from $5.0 million in the prior-year period.

The normalized profit margin rose to 8.7% from 6.6% in the year-earlier period.

Total revenue climbed 11.3% on an annual basis to $84.3 million from $75.7 million, and total operating expenses grew 7.7% year over year to $72.2 million from $67.0 million.

Reported net income rose 46.0% on an annual basis to $6.8 million, or 13 cents per share, from $4.6 million, or 9 cents per share.