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Peak Resorts fiscal Q1 loss narrows YOY

Peak Resorts Inc. said its normalized net income for the fiscal first quarter ended July 31 was a loss of 52 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 50 cents per share.

The per-share loss decreased 75.2% year over year from $2.11.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $7.3 million, compared with a loss of $8.4 million in the year-earlier period.

The normalized profit margin climbed to negative 134.4% from negative 149.8% in the year-earlier period.

Total revenue declined on an annual basis to $5.4 million from $5.6 million, and total operating expenses declined year over year to $14.4 million from $14.7 million.

Reported net income came to a loss of $7.1 million, or a loss of 51 cents per share, compared to a loss of $8.2 million, or a loss of $2.05 per share, in the year-earlier period.