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Town Sports International Q1 loss widens YOY

Town Sports International said its normalized net income for the first quarter came to a loss of 26 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 20 cents per share.

The per-share loss widened year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $6.3 million, compared with a loss of $1.5 million in the year-earlier period.

The normalized profit margin dropped to negative 5.6% from negative 1.3% in the year-earlier period.

Total revenue fell on an annual basis to $111.4 million from $115.9 million, and total operating expenses grew on an annual basis to $116.9 million from $114.2 million.

Reported net income totaled a loss of $12.8 million, or a loss of 52 cents per share, compared to a loss of $3.5 million, or a loss of 15 cents per share, in the prior-year period.