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Le Chí¢teau swings to loss in fiscal Q2

Le Château Inc. said its normalized net income for the fiscal second quarter ended July 26 amounted to a loss of 5 Canadian cents per share, compared with 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$1.5 million, compared with income of C$1.3 million in the year-earlier period.

The normalized profit margin dropped to negative 2.2% from 1.7% in the year-earlier period.

Total revenue fell 9.7% on an annual basis to C$68.3 million from C$75.7 million, and total operating expenses decreased year over year to C$70.0 million from C$72.9 million.

Reported net income totaled a loss of C$3.0 million, or a loss of 10 cents per share, compared to income of C$1.1 million, or 4 cents per share, in the prior-year period.