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Dixie Group fiscal Q1 loss widens 13.5% YOY

Dixie Group Inc. said its normalized net income for the fiscal first quarter ended March 28 amounted to a loss of 13 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share loss narrowed year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.9 million, compared with a loss of $1.7 million in the prior-year period.

The normalized profit margin declined to negative 2.0% from negative 2.0% in the year-earlier period.

Total revenue climbed 12.7% on an annual basis to $95.9 million from $85.1 million, and total operating expenses rose 12.4% from the prior-year period to $97.4 million from $86.7 million.

Reported net income totaled a loss of $2.3 million, or a loss of 15 cents per share, compared to income of $4.6 million, or 36 cents per share, in the prior-year period.