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Hooker Furniture fiscal Q3 profit climbs 57.0% YOY

Hooker Furniture Corp. said its normalized net income for the fiscal third quarter ended Nov. 2 was 29 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

EPS climbed 56.8% year over year from 18 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.1 million, an increase of 57.0% from $2.0 million in the prior-year period.

The normalized profit margin rose to 4.9% from 3.3% in the year-earlier period.

Total revenue grew 6.8% year over year to $63.2 million from $59.1 million, and total operating expenses grew from the prior-year period to $58.3 million from $56.0 million.

Reported net income rose 50.3% from the prior-year period to $3.2 million, or 30 cents per share, from $2.2 million, or 20 cents per share.