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One Group Hospitality Q4 loss widens 57.4% YOY

One Group Hospitality Inc. said its normalized net income for the fourth quarter came to a loss of 8 cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

The per-share loss increased 57.2% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.1 million, compared with a loss of $1.3 million in the year-earlier period.

The normalized profit margin increased to 9.3% from negative 9.3% in the year-earlier period.

Total revenue grew 29.2% on an annual basis to $18.6 million from $14.4 million, and total operating expenses increased 22.7% on an annual basis to $19.0 million from $15.5 million.

Reported net income decreased 12.2% from the prior-year period to $1.7 million, or 7 cents per share, from $2.0 million, or 8 cents per share.

For the year, the company's normalized net income totaled a loss of 11 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 8 cents.

EPS was 4 cents in the prior year.

Normalized net income was a loss of $2.8 million, compared with income of $962,540 in the prior year.

Full-year total revenue grew 22.7% year over year to $60.5 million from $49.3 million, and total operating expenses rose 34.5% on an annual basis to $65.7 million from $48.9 million.

The company said reported net income grew 12.2% on an annual basis to $7.0 million, or 28 cents per share, in the full year, from $6.2 million, or 25 cents per share.