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Hibbett Sports fiscal Q1 profit climbs 7.5% YOY

Hibbett Sports Inc. said its normalized net income for the fiscal first quarter ended May 3 amounted to $1.09 per share, compared with the S&P Capital IQ consensus estimate of $1.08 per share.

EPS climbed 8.4% year over year from $1.01.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $28.5 million, a gain of 7.5% from $26.5 million in the year-earlier period.

The normalized profit margin fell to 10.9% from 11.0% in the year-earlier period.

Total revenue increased 9.1% year over year to $261.9 million from $240.0 million, and total operating expenses climbed 9.5% from the prior-year period to $216.2 million from $197.6 million.

Reported net income grew 8.2% from the prior-year period to $28.5 million, or $1.09 per share, from $26.3 million, or $1 per share.