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Party City Q1 loss narrows YOY

Party City Holdco Inc. said its first-quarter normalized net income came to a loss of 10 cents per share, compared with a loss of 16 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 $9.8 million, compared with a loss of $14.9 million in the prior-year period.

The normalized profit margin climbed to negative 2.1% from negative 3.4% in the year-earlier period.

Total revenue climbed 6.7% on an annual basis to $462.1 million from $433.0 million, and total operating expenses grew 5.4% on an annual basis to $438.1 million from $415.6 million.

Reported net income totaled a loss of $8.5 million, or a loss of 9 cents per share, compared to a loss of $19.7 million, or a loss of 21 cents per share, in the prior-year period.