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Kirkland's fiscal Q4 profit climbs 23.3% YOY

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Kirkland's fiscal Q4 profit climbs 23.3% YOY

Kirkland's Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 came to 90 cents per share, compared with the S&P Capital IQ consensus estimate of 87 cents per share.

EPS increased 24.1% year over year from 72 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $16.0 million, a gain of 23.3% from $12.9 million in the fourth quarter ended Feb. 1, 2014.

The normalized profit margin climbed to 8.9% from 8.3% in the year-earlier period.

Total revenue rose 14.5% year over year to $178.7 million from $156.1 million, and total operating expenses rose 13.1% from the prior-year period to $153.2 million from $135.4 million.

Reported net income rose 26.8% from the prior-year period to $15.5 million, or 87 cents per share, from $12.2 million, or 68 cents per share.

For the year, the company's normalized net income totaled $1.02 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 99 cents.

EPS rose 20.1% from 85 cents in the prior year.

Normalized net income was $18.2 million, an increase of 20.8% from $15.1 million in the prior year.

Full-year total revenue grew 10.2% from the prior-year period to $507.6 million from $460.6 million, and total operating expenses rose 9.7% on an annual basis to $478.6 million from $436.4 million.

The company said reported net income grew 22.7% on an annual basis to $17.8 million, or $1 per share, in the full year, from $14.5 million, or 82 cents per share.