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Cott fiscal Q1 loss widens YOY

Cott Corp. said its normalized net income for the fiscal first quarter ended April 4 was a loss of 4 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 17 cents per share.

The per-share loss grew year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.1 million, compared with a loss of $1.9 million in the first quarter ended March 29, 2014.

The normalized profit margin declined to negative 0.6% from negative 0.4% in the year-earlier period.

Total revenue increased 49.4% on an annual basis to $709.8 million from $475.1 million, and total operating expenses rose 49.6% from the prior-year period to $697.0 million from $465.8 million.

Reported net income totaled a loss of $5.6 million, or a loss of 6 cents per share, compared to a loss of $3.8 million, or a loss of 4 cents per share, in the first quarter ended March 29, 2014.