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Birks Group swings to loss in fiscal H2

Birks Group Inc. said its normalized net income for the fiscal second half ended March 28 was a loss of 8 cents per share, compared with 7 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 $1.5 million, compared with income of $1.2 million in the prior-year period.

Total revenue climbed 5.3% year over year to $161.9 million from $153.8 million, and total operating expenses grew 7.8% on an annual basis to $158.2 million from $146.8 million.

Reported net income came to a loss of $4.6 million, or a loss of 26 cents per share, compared to income of $1.9 million, or 11 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 11 cents per share, compared with a loss of 22 cents per share in the prior year.

Normalized net income was a loss of $2.0 million, compared with a loss of $3.6 million in the prior year.

Full-year total revenue rose 7.3% year over year to $301.6 million from $281.2 million, and total operating expenses rose 5.8% year over year to $293.5 million from $277.4 million.

The company said reported net income came to a loss of $8.6 million, or a loss of 48 cents per share, in the full year, compared with a loss of $5.8 million, or a loss of 35 cents per share, the prior year.