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Tuesday Morning fiscal Q1 loss narrows YOY

Tuesday Morning Corp. said its normalized net income for the fiscal first quarter ended Sept. 30 was a loss of 9 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 13 cents per share.

The per-share loss narrowed 41.6% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.8 million, compared with a loss of $6.5 million in the prior-year period.

The normalized profit margin increased to negative 1.9% from negative 3.5% in the year-earlier period.

Total revenue increased 10.1% on an annual basis to $202.2 million from $183.7 million, and total operating expenses climbed 7.3% year over year to $208.0 million from $193.8 million.

Reported net income totaled a loss of $6.1 million, or a loss of 14 cents per share, compared to a loss of $11.9 million, or a loss of 28 cents per share, in the year-earlier period.