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Naked Brand swings to profit in fiscal Q3

Naked Brand Group Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 was 92 cents per share, compared with a loss of 31 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.5 million, compared with a loss of $247,750 in the prior-year period.

The normalized profit margin increased to 3,091.8% from negative 210.8% in the year-earlier period.

Total revenue increased 24.1% on an annual basis to $145,790 from $117,520, and total operating expenses climbed on an annual basis to $3.0 million from $654,540.

Reported net income came to a loss of $2.9 million, or a loss of 59 cents per share, compared to a loss of $320,330, or a loss of 50 cents per share, in the year-earlier period.