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Michael Kors fiscal Q1 profit climbs 40.0% YOY

Michael Kors Holdings Ltd. said its normalized net income for the fiscal first quarter ended June 28 came to 83 cents per share, compared with the S&P Capital IQ consensus estimate of 81 cents per share.

EPS rose 38.1% year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $172.5 million, a gain of 40.0% from $123.2 million in the prior-year period.

The normalized profit margin fell to 18.8% from 19.2% in the year-earlier period.

Total revenue rose 43.4% year over year to $919.2 million from $640.9 million, and total operating expenses increased 44.9% on an annual basis to $642.4 million from $443.3 million.

Reported net income grew 51.3% on an annual basis to $188.5 million, or 91 cents per share, from $124.6 million, or 61 cents per share.