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Sequential Brands profit beats consensusin Q1

Sequential Brands Group Inc. said its normalized net income for the first quarter came to 2 cents per share, compared with the S&P Capital IQ consensus estimate of 1 cents per share.

EPS fell 5.8% year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $995,130, an increase of 48.0% from $672,500 in the prior-year period.

The normalized profit margin dropped to 8.7% from 10.7% in the year-earlier period.

Total revenue increased year over year to $13.6 million from $6.3 million, and total operating expenses rose on an annual basis to $8.7 million from $3.8 million.

Reported net income grew from the prior-year period to $1.6 million, or 4 cents per share, from $786,820, or 3 cents per share.