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Vince Holding profit beats consensusin fiscal Q1

Vince Holding Corp. said its normalized net income for the fiscal first quarter ended May 3 came to 38 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

The per-share result swung to a profit from the prior-year loss of $1.81.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.4 million, compared with a loss of $4.7 million in the prior-year period.

The normalized profit margin increased to 2.7% from negative 11.7% in the year-earlier period.

Total revenue rose 32.4% year over year to $53.5 million from $40.4 million, and total operating expenses climbed 29.7% year over year to $48.2 million from $37.2 million.

Reported net income totaled $1.5 million, or 38 cents per share, compared to a loss of $9.7 million, or a loss of $3.73 per share, in the prior-year period.