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Liquor Stores N.A. Q1 loss narrows YOY

Liquor Stores N.A. Ltd. said its normalized net income for the first quarter amounted to a loss of 7 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share loss decreased 21.3% year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$2.0 million, compared with a loss of C$2.1 million in the year-earlier period.

The normalized profit margin rose to negative 1.0% from negative 1.5% in the year-earlier period.

Total revenue climbed 7.3% year over year to C$147.4 million from C$137.4 million, and total operating expenses rose 7.0% on an annual basis to C$148.3 million from C$138.5 million.

Reported net income came to a loss of C$2.5 million, or a loss of 9 cents per share, compared to a loss of C$2.5 million, or a loss of 11 cents per share, in the prior-year period.