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Sequential Brands profit misses consensus by 88.6% in Q2

Sequential Brands Group Inc. said its second-quarter normalized net income amounted to $403,380, compared with a loss of $1.6 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 0.4% from negative 7.7% in the year-earlier period.

Total revenue climbed 68.8% year over year to $34.2 million from $20.2 million, and total operating expenses rose 69.6% on an annual basis to $20.2 million from $11.9 million.

Reported net income totaled a loss of $65,000, or a loss of 0 cents per share, compared to a loss of $1.2 million, or a loss of 3 cents per share, in the prior-year period.