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Craft Brew Alliance Q1 loss widens YOY

Craft Brew Alliance Inc. said its first-quarter normalized net income came to a loss of 17 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 5 cents per share.

The per-share loss widened year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $3.3 million, compared with a loss of $1.2 million in the prior-year period.

The normalized profit margin dropped to negative 8.5% from negative 2.9% in the year-earlier period.

Total revenue fell 6.0% on an annual basis to $39.2 million from $41.7 million, and total operating expenses climbed year over year to $44.4 million from $43.5 million.

Reported net income totaled a loss of $3.3 million, or a loss of 17 cents per share, compared to a loss of $1.1 million, or a loss of 6 cents per share, in the prior-year period.