Craft Brew Alliance Inc. said its first-quarter normalized net income amounted to a loss of 6 cents per share, compared with the S&P Capital IQ consensus estimate of 0 cents per share.
The per-share loss widened year over year from 1 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.2 million, compared with a loss of $205,630 in the prior-year period.
The normalized profit margin dropped to negative 2.9% from negative 0.5% in the year-earlier period.
Total revenue decreased year over year to $41.7 million from $43.8 million, and total operating expenses decreased on an annual basis to $43.5 million from $44.0 million.
Reported net income came to a loss of $1.1 million, or a loss of 6 cents per share, compared to a loss of $189,760, or a loss of 1 cents per share, in the year-earlier period.
