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Lifetime Brands Q2 loss narrows YOY

Lifetime Brands Inc. said its normalized net income for the second quarter amounted to a loss of 4 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 8 cents per share.

The per-share loss decreased 79.5% year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $561,880, compared with a loss of $2.7 million in the prior-year period.

The normalized profit margin increased to negative 0.8% from negative 2.3% in the year-earlier period.

Total revenue climbed year over year to $120.9 million from $115.3 million, and total operating expenses grew from the prior-year period to $120.4 million from $118.0 million.

Reported net income totaled a loss of $1.7 million, or a loss of 12 cents per share, compared to a loss of $3.2 million, or a loss of 24 cents per share, in the year-earlier period.