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G-III Apparel fiscal Q3 profit climbs 22.0% YOY

G-III Apparel Group Ltd. said its normalized net income for the fiscal third quarter ended Oct. 31 was $1.85 per share, compared with the S&P Capital IQ consensus estimate of $1.78 per share.

EPS rose 19.9% year over year from $1.54.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $85.9 million, an increase of 22.0% from $70.4 million in the year-earlier period.

The normalized profit margin increased to 9.4% from 8.7% in the year-earlier period.

Total revenue grew 12.0% on an annual basis to $909.9 million from $812.3 million, and total operating expenses grew 10.2% on an annual basis to $770.5 million from $699.0 million.

Reported net income increased 8.1% from the prior-year period to $87.0 million, or $1.87 per share, from $80.5 million, or $1.76 per share.