Aimia Inc. said its normalized net income for the first quarter came to a loss of 6 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 21 cents per share.
The per-share result swung to a loss from the prior-year profit of 8 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$9.8 million, compared with income of C$14.3 million in the year-earlier period.
The normalized profit margin declined to negative 1.7% from 2.2% in the year-earlier period.
Total revenue declined 13.6% year over year to C$570.1 million from C$660.1 million, and total operating expenses fell 8.8% on an annual basis to C$576.9 million from C$632.3 million.
Reported net income totaled a loss of C$19.0 million, or a loss of 12 cents per share, compared to income of C$16.4 million, or 10 cents per share, in the year-earlier period.