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Premier Exhibitions fiscal Q4 loss widens 59.5% YOY

Premier Exhibitions Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to a loss of 30 cents per share, compared with a loss of 19 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.5 million, compared with a loss of $931,630 in the year-earlier period.

The normalized profit margin declined to negative 21.6% from negative 15.0% in the year-earlier period.

Total revenue grew 10.9% on an annual basis to $6.9 million from $6.2 million, and total operating expenses increased 19.3% from the prior-year period to $9.3 million from $7.8 million.

Reported net income totaled a loss of $5.6 million, or a loss of $1.13 per share, compared to a loss of $1.2 million, or a loss of 28 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 89 cents per share, compared with a loss of 38 cents per share in the prior year.

Normalized net income was a loss of $4.4 million, compared with a loss of $1.9 million in the prior year.

Full-year total revenue amounted to $29.4 million, compared with $29.3 million in the prior year, and total operating expenses increased 15.1% year over year to $37.2 million from $32.3 million.

The company said reported net income came to a loss of $10.5 million, or a loss of $2.13 per share, in the full year, compared with a loss of $689,390, or a loss of 14 cents per share, the prior year.