Eastside Distilling Inc. said its first-quarter normalized net income came to a loss of 73 cents per share, compared with a loss of 3 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 $552,440, compared with a loss of $15,800 in the prior-year period.
The normalized profit margin fell to negative 169.9% from negative 10.7% in the year-earlier period.
Total revenue rose on an annual basis to $325,070 from $147,110, and total operating expenses rose from the prior-year period to $1.2 million from $172,000.
Reported net income totaled a loss of $831,020, or a loss of $1.10 per share, compared to a loss of $25,280, or a loss of 5 cents per share, in the prior-year period.