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Differential Brands swings to loss in Q3

Differential Brands Group Inc. said its third-quarter normalized net income was a loss of 12 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 10 cents per share.

The per-share result swung to a loss from the prior-year profit of 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.5 million, compared with income of $218,130 in the year-earlier period.

The normalized profit margin declined to negative 3.5% from 1.2% in the year-earlier period.

Total revenue increased year over year to $41.2 million from $17.6 million, and total operating expenses increased year over year to $41.3 million from $17.1 million.

Reported net income came to a loss of $4.1 million, or a loss of 32 cents per share, compared to income of $36,000, or 0 cents per share, in the prior-year period.