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Tuesday Morning fiscal Q3 loss narrows YOY

Tuesday Morning Corp. said its normalized net income for the fiscal third quarter ended March 31 was a loss of 4 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 6 cents per share.

The per-share loss narrowed 51.0% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.8 million, compared with a loss of $3.6 million in the prior-year period.

The normalized profit margin rose to negative 0.9% from negative 2.0% in the year-earlier period.

Total revenue increased year over year to $189.7 million from $182.8 million, and total operating expenses grew from the prior-year period to $191.8 million from $188.2 million.

Reported net income came to a loss of $2.6 million, or a loss of 6 cents per share, compared to a loss of $8.6 million, or a loss of 20 cents per share, in the year-earlier period.