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Lifetime Brands swings to loss in Q2

Lifetime Brands Inc. said its second-quarter normalized net income came to a loss of $2.1 million, compared with income of $23,130 in the prior-year period.

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

The normalized profit margin declined to negative 1.7% from 0.0% in the year-earlier period.

Total revenue totaled $117.4 million, compared with $118.0 million in the year-earlier period, and total operating expenses climbed on an annual basis to $120.1 million from $116.9 million.

Reported net income came to a loss of $2.0 million, or a loss of 14 cents per share, compared to a loss of $1.1 million, or a loss of 8 cents per share, in the year-earlier period.