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Sequential Brands Q1 profit falls YOY

Sequential Brands Group Inc. said its first-quarter normalized net income was 2 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 0 cents per share.

EPS decreased 34.0% year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.2 million, a decrease from $1.2 million in the prior-year period.

The normalized profit margin declined to 3.4% from 8.7% in the year-earlier period.

Total revenue grew on an annual basis to $34.0 million from $13.6 million, and total operating expenses climbed year over year to $18.2 million from $8.4 million.

Reported net income came to a loss of $1.2 million, or a loss of 2 cents per share, compared to income of $1.6 million, or 4 cents per share, in the year-earlier period.