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Zumiez profit beats consensus by 79.3% in fiscal Q1

Zumiez Inc. said its normalized net income for the fiscal first quarter ended May 3 was 9 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

In the prior-year period, the per-share result was a profit of 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.5 million, a decrease from $2.6 million in the year-earlier period.

The normalized profit margin declined to 1.5% from 1.7% in the year-earlier period.

Total revenue grew 9.7% on an annual basis to $162.9 million from $148.5 million, and total operating expenses grew 10.2% year over year to $159.2 million from $144.5 million.

Reported net income increased 8.9% year over year to $2.6 million, or 9 cents per share, from $2.4 million, or 8 cents per share.