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Differential Brands swings to loss in Q1

Differential Brands Group Inc. said its normalized net income for the first quarter amounted to a loss of 4 cents per share, compared with 4 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 $521,880, compared with income of $355,000 in the year-earlier period.

The normalized profit margin fell to 1.2% from 1.9% in the year-earlier period.

Total revenue climbed 84.3% on an annual basis to $34.9 million from $18.9 million, and total operating expenses climbed 88.6% on an annual basis to $34.4 million from $18.2 million.

Reported net income came to a loss of $6.4 million, or a loss of 52 cents per share, compared to income of $529,500, or 6 cents per share, in the year-earlier period.