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Urban Outfitters fiscal Q1 profit falls 17.6% YOY

Urban Outfitters Inc. said its normalized net income for the fiscal first quarter ended April 30 was 27 cents per share, compared with the S&P Capital IQ consensus estimate of 27 cents per share.

EPS declined 16.0% year over year from 32 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $38.8 million, a decline of 17.6% from $47.0 million in the prior-year period.

The normalized profit margin declined to 5.6% from 7.3% in the year-earlier period.

Total revenue increased 5.9% on an annual basis to $686.3 million from $648.2 million, and total operating expenses increased 8.9% from the prior-year period to $626.5 million from $575.2 million.

Reported net income declined 20.3% on an annual basis to $37.9 million, or 26 cents per share, from $47.6 million, or 32 cents per share.