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Sportsman's Warehouse swings to loss in fiscal Q1

Sportsman's Warehouse Holdings Inc. said its normalized net income for the fiscal first quarter ended May 3 amounted to a loss of 10 cents per share, compared with 18 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.4 million, compared with income of $6.0 million in the year-earlier period.

The normalized profit margin fell to negative 1.5% from 4.4% in the year-earlier period.

Total revenue decreased year over year to $132.4 million from $136.5 million, and total operating expenses increased 7.3% year over year to $132.6 million from $123.7 million.

Reported net income totaled a loss of $3.4 million, or a loss of 10 cents per share, compared to income of $4.3 million, or 13 cents per share, in the year-earlier period.