Steven Madden Ltd. said its normalized net income for the first quarter amounted to 33 cents per share, compared with the S&P Capital IQ consensus estimate of 31 cents per share.
EPS decreased 5.2% year over year from 35 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $20.5 million, a decline of 9.6% from $22.7 million in the year-earlier period.
The normalized profit margin fell to 6.3% from 7.4% in the year-earlier period.
Total revenue rose 6.3% on an annual basis to $323.9 million from $304.6 million, and total operating expenses grew 8.3% from the prior-year period to $291.1 million from $268.6 million.
Reported net income declined 15.3% on an annual basis to $19.9 million, or 32 cents per share, from $23.4 million, or 36 cents per share.
