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Sequential Brands profit misses consensus by 99.4% in Q2

Sequential Brands Group Inc. said its normalized net income for the second quarter came to $10,250, compared with a loss of $507,000 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 7.7% from negative 7.2% in the year-earlier period.

Total revenue climbed year over year to $20.2 million from $7.0 million, and total operating expenses grew 44.9% on an annual basis to $9.3 million from $6.4 million.

Reported net income came to a loss of $1.2 million, or a loss of 3 cents per share, compared to a loss of $502,400, or a loss of 2 cents per share, in the prior-year period.