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CSS Industries fiscal Q1 loss narrows YOY

CSS Industries Inc. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 14 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 12 cents per share.

The per-share loss decreased 18.3% 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 $1.3 million, compared with a loss of $1.6 million in the year-earlier period.

The normalized profit margin climbed to negative 2.7% from negative 3.4% in the year-earlier period.

Total revenue rose on an annual basis to $48.3 million from $47.1 million, and total operating expenses increased from the prior-year period to $50.4 million from $49.7 million.

Reported net income totaled a loss of $1.3 million, or a loss of 14 cents per share, compared to a loss of $1.7 million, or a loss of 18 cents per share, in the prior-year period.