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Movado Group profit misses consensus by 22.9% in fiscal Q2

Movado Group Inc. said its normalized net income for the fiscal second quarter ended July 31 was 42 cents per share, compared with the S&P Capital IQ consensus estimate of 54 cents per share.

EPS climbed year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $10.7 million, a gain from $10.4 million in the prior-year period.

The normalized profit margin fell to 7.4% from 7.5% in the year-earlier period.

Total revenue rose on an annual basis to $143.6 million from $138.3 million, and total operating expenses rose on an annual basis to $126.4 million from $121.3 million.

Reported net income fell year over year to $12.1 million, or 47 cents per share, from $12.4 million, or 48 cents per share.