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StoneMor Partners swings to loss in Q1

StoneMor Partners LP said its normalized net income for the first quarter amounted to a loss of $5.2 million, compared with income of $18,500 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 8.5% from 0.0% in the year-earlier period.

Total revenue increased year over year to $67.4 million from $64.4 million, and total operating expenses rose 19.8% year over year to $70.4 million from $58.8 million.

Reported net income came to a loss of $8.8 million, or a loss of 30 cents per share, compared to income of $455,740, or 2 cents per share, in the year-earlier period.