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Eastside Distilling Q3 loss widens YOY

Eastside Distilling Inc. said its normalized net income for the third quarter amounted to a loss of 57 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 63 cents per share.

The per-share loss decreased 51.1% year over year from $1.16.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $897,780, compared with a loss of $882,880 in the year-earlier period.

The normalized profit margin climbed to negative 162.0% from negative 250.8% in the year-earlier period.

Total revenue grew 72.6% on an annual basis to $607,850 from $352,080, and total operating expenses grew 11.4% year over year to $2.0 million from $1.8 million.

Reported net income totaled a loss of $1.5 million, or a loss of 92 cents per share, compared to a loss of $1.4 million, or a loss of $1.85 per share, in the prior-year period.