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Carter's Inc. fiscal Q1 profit climbs 9.6% YOY

Carter's Inc. said its normalized net income for the fiscal first quarter ended April 2 amounted to $1.01 per share, compared with the S&P Capital IQ consensus estimate of 100 cents per share.

EPS increased 11.7% year over year from 90 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $52.1 million, a gain of 9.6% from $47.5 million in the year-earlier period.

The normalized profit margin climbed to 7.2% from 6.9% in the year-earlier period.

Total revenue grew 5.7% on an annual basis to $724.1 million from $684.8 million, and total operating expenses increased 5.1% on an annual basis to $631.1 million from $600.3 million.

Reported net income grew 8.7% from the prior-year period to $53.5 million, or $1.04 per share, from $49.2 million, or 94 cents per share.