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Destination XL swings to loss in fiscal Q1

Destination XL Group Inc. said its normalized net income for the fiscal first quarter ended May 3 was a loss of 4 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share result swung to a loss from the prior-year profit of 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.2 million, compared with income of $1.1 million in the prior-year period.

The normalized profit margin fell to negative 2.2% from 1.2% in the year-earlier period.

Total revenue rose on an annual basis to $96.8 million from $94.0 million, and total operating expenses climbed 8.6% year over year to $99.8 million from $92.0 million.

Reported net income totaled a loss of $3.4 million, or a loss of 7 cents per share, compared to income of $971,740, or 2 cents per share, in the prior-year period.