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New Look Vision fiscal Q1 profit climbs 29.5% YOY

New Look Vision Group Inc. said its normalized net income for the fiscal first quarter ended March 26 amounted to 15 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 16 cents per share.

EPS climbed 28.7% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$2.0 million, a gain of 29.5% from C$1.6 million in the year-earlier period.

The normalized profit margin climbed to 4.6% from 3.8% in the year-earlier period.

Total revenue climbed 6.7% on an annual basis to C$44.6 million from C$41.8 million, and total operating expenses climbed 6.0% on an annual basis to C$40.3 million from C$38.0 million.

Reported net income rose 9.0% from the prior-year period to C$1.8 million, or 13 cents per share, from C$1.6 million, or 12 cents per share.