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Lifetime Brands Q1 loss narrows YOY

Lifetime Brands Inc. said its first-quarter normalized net income came to a loss of 10 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 13 cents per share.

The per-share loss narrowed 59.5% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.4 million, compared with a loss of $3.4 million in the year-earlier period.

The normalized profit margin increased to negative 1.2% from negative 3.0% in the year-earlier period.

Total revenue increased year over year to $113.4 million from $110.9 million, and total operating expenses totaled $115.2 million, compared with $114.9 million in the prior-year period.

Reported net income totaled a loss of $1.3 million, or a loss of 9 cents per share, compared to a loss of $4.3 million, or a loss of 31 cents per share, in the year-earlier period.