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Le Chí¢teau fiscal Q1 loss widens 32.8% YOY

Le Château Inc. said its normalized net income for the fiscal first quarter ended April 26 amounted to a loss of 34 Canadian cents per share, compared with a loss of 26 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$9.2 million, compared with a loss of C$6.9 million in the prior-year period.

The normalized profit margin fell to negative 17.3% from negative 12.2% in the year-earlier period.

Total revenue decreased 6.3% on an annual basis to C$53.3 million from C$56.9 million, and total operating expenses came to C$67.4 million, compared with C$67.3 million in the year-earlier period.

Reported net income totaled a loss of C$13.1 million, or a loss of 48 cents per share, compared to a loss of C$8.2 million, or a loss of 30 cents per share, in the year-earlier period.