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Citi Trends fiscal Q4 profit climbs YOY

Citi Trends Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 came to 21 cents per share, compared with the S&P Capital IQ consensus estimate of 25 cents per share.

EPS climbed year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.2 million, an increase from $1.4 million in the fourth quarter ended Feb. 1, 2014.

The normalized profit margin increased to 1.8% from 0.9% in the year-earlier period.

Total revenue increased 15.2% on an annual basis to $181.1 million from $157.2 million, and total operating expenses rose 13.5% from the prior-year period to $176.0 million from $155.0 million.

Reported net income grew from the prior-year period to $4.7 million, or 31 cents per share, from $1.5 million, or 10 cents per share.

For the year, the company's normalized net income totaled 54 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 59 cents.

EPS was a loss of 1 cents in the prior year.

Normalized net income was $8.1 million, compared with a loss of $171,250 in the prior year.

Full-year total revenue grew 7.8% year over year to $670.8 million from $622.2 million, and total operating expenses increased 5.7% on an annual basis to $657.9 million from $622.6 million.

The company said reported net income grew on an annual basis to $9.0 million, or 60 cents per share, in the full year, from $444,400, or 3 cents per share.