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Naked Brand swings to profit in fiscal Q4

Naked Brand Group Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 was $1.29 per share, compared with a loss of 88 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.2 million, compared with a loss of $736,450 in the prior-year period.

The normalized profit margin was 968.1%.

Total revenue declined 43.5% year over year to $126,620 from $224,240, and total operating expenses grew on an annual basis to $2.4 million from $826,440.

Reported net income totaled $2.1 million, or $2.06 per share, compared to a loss of $1.0 million, or a loss of $1.38 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of $13.80 per share, compared with a loss of $3.00 per share in the prior year.

Normalized net income was a loss of $12.5 million, compared with a loss of $2.4 million in the prior year.

Full-year total revenue decreased 12.8% on an annual basis to $557,210 from $639,110, and total operating expenses grew 132.0% on an annual basis to $7.3 million from $3.2 million.

The company said reported net income totaled a loss of $21.0 million, or a loss of $23.33 per share, in the full year, compared with a loss of $4.4 million, or a loss of $5.70 per share, the prior year.