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One Group Hospitality Q3 loss widens YOY


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One Group Hospitality Q3 loss widens YOY

One Group Hospitality Inc. said its normalized net income for the third quarter came to a loss of 7 cents per share, compared with the S&P Capital IQ consensus estimate of 1 cents per share.

The per-share loss widened year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.7 million, compared with a loss of $793,660 in the year-earlier period.

The normalized profit margin dropped to negative 9.1% from negative 5.2% in the year-earlier period.

Total revenue rose 20.5% on an annual basis to $18.4 million from $15.3 million, and total operating expenses climbed 19.3% year over year to $20.3 million from $17.1 million.

Reported net income came to $1.5 million, or 6 cents per share, compared to a loss of $2.1 million, or a loss of 8 cents per share, in the prior-year period.