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Premier Exhibitions fiscal Q1 loss widens 88.0% YOY

Premier Exhibitions Inc. said its normalized net income for the fiscal first quarter ended May 31 came to a loss of 27 cents per share, compared with a loss of 14 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 $1.3 million, compared with a loss of $703,380 in the year-earlier period.

The normalized profit margin fell to negative 18.2% from negative 9.4% in the year-earlier period.

Total revenue fell on an annual basis to $7.2 million from $7.5 million, and total operating expenses grew 6.3% year over year to $9.4 million from $8.9 million.

Reported net income totaled a loss of $2.3 million, or a loss of 46 cents per share, compared to a loss of $1.2 million, or a loss of 25 cents per share, in the year-earlier period.