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Fox Factory Holding Corp Q1 profit falls 15.5% YOY

Fox Factory Holding Corp. said its first-quarter normalized net income was 8 cents per share, compared with the S&P Capital IQ consensus estimate of 8 cents per share.

EPS decreased 16.3% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.0 million, a decline of 15.5% from $3.6 million in the prior-year period.

The normalized profit margin fell to 4.0% from 6.3% in the year-earlier period.

Total revenue increased 20.8% on an annual basis to $67.8 million from $56.1 million, and total operating expenses rose 24.5% from the prior-year period to $62.7 million from $50.3 million.

Reported net income decreased 74.8% from the prior-year period to $758,820, or 2 cents per share, from $3.0 million, or 8 cents per share.