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Perry Ellis International swings to loss in fiscal Q4

Perry Ellis International Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 came to a loss of 11 cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

The per-share result swung to a loss from the prior-year profit of 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.6 million, compared with income of $1.1 million in the fourth quarter ended Feb. 1, 2014.

The normalized profit margin fell to 0.0% from 0.5% in the year-earlier period.

Total revenue totaled $217.7 million, compared with $216.1 million in the prior-year period, and total operating expenses rose on an annual basis to $216.8 million from $210.6 million.

Reported net income came to a loss of $42.9 million, or a loss of $2.90 per share, compared to a loss of $28.3 million, or a loss of $1.91 per share, in the fourth quarter ended Feb. 1, 2014.

For the year, the company's normalized net income totaled 33 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 52 cents.

EPS rose from 10 cents in the prior year.

Normalized net income was $4.8 million, a gain from $1.5 million in the prior year.

Full-year total revenue declined on an annual basis to $890.0 million from $912.2 million, and total operating expenses decreased on an annual basis to $867.9 million from $894.8 million.

The company said reported net income totaled a loss of $37.1 million, or a loss of $2.50 per share, in the full year, compared with a loss of $22.8 million, or a loss of $1.52 per share, the prior year.