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Indigo Books & Music fiscal Q4 loss narrows YOY

Indigo Books & Music Inc. said its normalized net income for the fiscal fourth quarter ended March 28 came to a loss of 42 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 38 cents per share.

The per-share loss decreased year over year from 44 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$10.9 million, compared with a loss of C$11.3 million in the year-earlier period.

The normalized profit margin climbed to negative 5.9% from negative 6.1% in the year-earlier period.

Total revenue totaled C$186.2 million, compared with C$184.3 million in the year-earlier period, and total operating expenses totaled C$204.3 million, compared with C$202.6 million in the prior-year period.

Reported net income totaled a loss of C$13.9 million, or a loss of 54 cents per share, compared to a loss of C$14.4 million, or a loss of 56 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 9 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 21 cents.

EPS was a loss of 59 cents in the prior year.

Normalized net income was a loss of C$2.3 million, compared with a loss of C$15.2 million in the prior year.

Full-year total revenue increased from the prior-year period to C$895.4 million from C$867.7 million, and total operating expenses totaled C$902.3 million, compared with C$894.6 million in the year-earlier period.

The company said reported net income came to a loss of C$3.6 million, or a loss of 14 cents per share, in the full year, compared with a loss of C$31.0 million, or a loss of C$1.21 per share, the prior year.