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Cherokee profit beats consensus by 23.8% in fiscal Q3

Cherokee Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 was 26 cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.

EPS climbed 41.4% year over year from 19 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.3 million, a gain of 44.0% from $1.6 million in the year-earlier period.

The normalized profit margin increased to 25.9% from 23.4% in the year-earlier period.

Total revenue increased 30.3% year over year to $8.7 million from $6.7 million, and total operating expenses increased 20.5% year over year to $4.9 million from $4.1 million.

Reported net income increased 44.8% year over year to $2.3 million, or 27 cents per share, from $1.6 million, or 19 cents per share.