Delta Apparel Inc. said its normalized net income for the fiscal first quarter ended Dec. 27, 2014, was a loss of 37 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 10 cents per share.
The per-share loss widened year over year from 17 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.9 million, compared with a loss of $1.3 million in the year-earlier period.
The normalized profit margin dropped to negative 3.1% from negative 1.3% in the year-earlier period.
Total revenue declined 6.6% year over year to $93.4 million from $100.0 million, and total operating expenses fell year over year to $96.5 million from $100.7 million.
Reported net income came to a loss of $4.2 million, or a loss of 53 cents per share, compared to a loss of $1.6 million, or a loss of 20 cents per share, in the prior-year period.
