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Party City profit misses consensus by 75.8% in Q1

Party City Holdco Inc. said its normalized net income for the first quarter was $1.2 million, compared with a loss of $73,750 in the year-earlier period.

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

The normalized profit margin increased to 0.3% from negative 0.0% in the year-earlier period.

Total revenue climbed on an annual basis to $477.0 million from $457.7 million, and total operating expenses rose year over year to $453.2 million from $438.2 million.

Reported net income came to a loss of $4.8 million, or a loss of 4 cents per share, compared to a loss of $394,000, or a loss of 0 cents per share, in the year-earlier period.