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Tile Shop profit beats consensus by 24.7% in Q1

Tile Shop Holdings said its first-quarter normalized net income was 8 cents per share, compared with the S&P Capital IQ consensus estimate of 7 cents per share.

EPS increased 12.6% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.3 million, a gain of 12.2% from $3.9 million in the year-earlier period.

The normalized profit margin dropped to 5.9% from 6.0% in the year-earlier period.

Total revenue increased 13.3% on an annual basis to $73.0 million from $64.4 million, and total operating expenses increased 13.6% year over year to $65.3 million from $57.4 million.

Reported net income totaled $3.6 million, or 7 cents per share, compared to $3.6 million, or 7 cents per share, in the prior-year period.