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G-III Apparel fiscal Q3 profit climbs 17.2% YOY

G-III Apparel Group said its normalized net income for the fiscal third quarter ended Oct. 31 amounted to $1.54 per share, compared with the S&P Capital IQ consensus estimate of $1.44 per share.

EPS rose 7.2% year over year from $1.44.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $70.4 million, a gain of 17.2% from $60.1 million in the prior-year period.

The normalized profit margin fell to 8.7% from 9.0% in the year-earlier period.

Total revenue grew 21.5% on an annual basis to $812.3 million from $668.7 million, and total operating expenses rose 22.6% year over year to $699.0 million from $570.4 million.

Reported net income grew 35.4% year over year to $80.7 million, or $1.76 per share, from $59.6 million, or $1.43 per share.