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Le Chí¢teau fiscal Q4 loss widens 92.1% YOY

Le Château Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 was a loss of 22 Canadian cents per share, compared with a loss of 13 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$6.7 million, compared with a loss of C$3.5 million in the prior-year period.

The normalized profit margin declined to negative 9.6% from negative 4.6% in the year-earlier period.

Total revenue declined 8.4% year over year to C$70.5 million from C$76.9 million, and total operating expenses fell on an annual basis to C$80.5 million from C$81.9 million.

Reported net income totaled a loss of C$11.8 million, or a loss of 39 cents per share, compared to a loss of C$4.0 million, or a loss of 15 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 82 cents per share, compared with a loss of 48 cents per share in the prior year.

Normalized net income was a loss of C$23.8 million, compared with a loss of C$13.2 million in the prior year.

Full-year total revenue declined 9.0% on an annual basis to C$250.2 million from C$274.8 million, and total operating expenses decreased on an annual basis to C$285.4 million from C$293.3 million.

The company said reported net income came to a loss of C$38.8 million, or a loss of C$1.34 per share, in the full year, compared with a loss of C$16.1 million, or a loss of 59 cents per share, the prior year.