One Group Hospitality Inc. said its normalized net income for the second quarter came to a loss of 3 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.
The per-share result swung to a loss from the prior-year profit of 5 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $677,760, compared with income of $1.3 million in the prior-year period.
The normalized profit margin fell to negative 3.9% from 8.7% in the year-earlier period.
Total revenue climbed 15.6% year over year to $17.2 million from $14.9 million, and total operating expenses rose 12.4% on an annual basis to $18.2 million from $16.2 million.
Reported net income came to a loss of $1.6 million, or a loss of 6 cents per share, compared to income of $8.4 million, or 34 cents per share, in the year-earlier period.