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Hibbett Sports fiscal Q2 profit falls 19.3% YOY

Hibbett Sports Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 amounted to 33 cents per share, compared with the S&P Capital IQ consensus estimate of 31 cents per share.

EPS fell 17.7% year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.5 million, a decrease of 19.3% from $10.6 million in the prior-year period.

The normalized profit margin fell to 4.4% from 5.7% in the year-earlier period.

Total revenue rose year over year to $193.9 million from $186.2 million, and total operating expenses rose 6.5% from the prior-year period to $180.2 million from $169.3 million.

Reported net income decreased 21.6% from the prior-year period to $8.3 million, or 32 cents per share, from $10.5 million, or 40 cents per share.