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Urban Outfitters fiscal Q4 profit falls YOY

Urban Outfitters Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 was 56 cents per share, compared with the S&P Capital IQ consensus estimate of 57 cents per share.

EPS climbed 8.9% year over year from 51 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $74.0 million, a decline from $76.3 million in the prior-year period.

The normalized profit margin dropped to 7.3% from 8.4% in the year-earlier period.

Total revenue grew 11.6% on an annual basis to $1.01 billion from $905.9 million, and total operating expenses rose 14.2% from the prior-year period to $887.1 million from $776.8 million.

Reported net income decreased 9.6% from the prior-year period to $79.6 million, or 60 cents per share, from $88.0 million, or 59 cents per share.

For the year, the company's normalized net income totaled $1.64 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.65.

EPS declined 8.1% from $1.79 in the prior year.

Normalized net income was $227.2 million, a decrease of 14.9% from $267.0 million in the prior year.

Full-year total revenue rose 7.7% year over year to $3.32 billion from $3.09 billion, and total operating expenses rose 11.2% on an annual basis to $2.96 billion from $2.66 billion.

The company said reported net income fell 17.7% year over year to $232.2 million, or $1.68 per share, in the full year, from $282.0 million, or $1.89 per share.