Transat A. T. Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 came to a loss of C$1.45 per share, compared with the S&P Capital IQ consensus estimate of a loss of 70 cents per share.
The per-share loss widened year over year from 58 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$56.1 million, compared with a loss of C$22.3 million in the year-earlier period.
The normalized profit margin declined to negative 6.8% from negative 2.6% in the year-earlier period.
Total revenue declined 6.9% year over year to C$788.6 million from C$847.2 million, and total operating expenses totaled C$880.4 million, compared with C$884.0 million in the year-earlier period.
Reported net income totaled a loss of C$64.3 million, or a loss of C$1.66 per share, compared to a loss of C$25.8 million, or a loss of 67 cents per share, in the prior-year period.
