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Tarena International swings to loss in Q1

Tarena International Inc. said its normalized net income for the first quarter was a loss of 20 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 13 cents per share.

The per-share result swung to a loss from the prior-year profit of 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $10.4 million, compared with income of $4.0 million in the year-earlier period.

The normalized profit margin dropped to negative 5.9% from 2.7% in the year-earlier period.

Total revenue rose 15.5% year over year to $174.7 million from $151.3 million, and total operating expenses rose 35.2% from the prior-year period to $203.7 million from $150.7 million.

Reported net income came to a loss of $16.3 million, or a loss of 31 cents per share, compared to income of $1.2 million, or 6 cents per share, in the prior-year period.