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Le Chí¢teau fiscal Q2 loss widens 29.5% YOY

Le Château Inc. said its normalized net income for the fiscal second quarter ended Aug. 1 was a loss of 7 Canadian cents per share, compared with a loss of 5 cents per share in the second quarter ended July 26, 2014.

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$1.5 million in the second quarter ended July 26, 2014.

The normalized profit margin dropped to negative 3.1% from negative 2.2% in the year-earlier period.

Total revenue declined 7.3% year over year to C$63.3 million from C$68.3 million, and total operating expenses declined 6.6% from the prior-year period to C$65.4 million from C$70.0 million.

Reported net income totaled a loss of C$3.9 million, or a loss of 13 cents per share, compared to a loss of C$3.0 million, or a loss of 10 cents per share, in the second quarter ended July 26, 2014.