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Kirkland's fiscal Q2 loss widens 56.6% YOY

Kirkland's Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 was a loss of 6 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.

The per-share loss grew 55.2% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.1 million, compared with a loss of $683,130 in the year-earlier period.

The normalized profit margin fell to negative 1.0% from negative 0.7% in the year-earlier period.

Total revenue rose 6.6% on an annual basis to $103.5 million from $97.1 million, and total operating expenses climbed 7.3% on an annual basis to $105.4 million from $98.2 million.

Reported net income came to a loss of $1.0 million, or a loss of 6 cents per share, compared to a loss of $515,220, or a loss of 3 cents per share, in the prior-year period.