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Regis swings to profit in fiscal Q3

Regis Corp. said its normalized net income for the fiscal third quarter ended March 31 came to 6 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share result swung to a profit from the prior-year loss of 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.4 million, compared with a loss of $5.8 million in the year-earlier period.

The normalized profit margin increased to 0.4% from negative 1.2% in the year-earlier period.

Total revenue declined on an annual basis to $454.0 million from $471.6 million, and total operating expenses fell 6.0% on an annual basis to $446.3 million from $474.8 million.

Reported net income came to a loss of $3.7 million, or a loss of 7 cents per share, compared to a loss of $10.1 million, or a loss of 18 cents per share, in the prior-year period.