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Le Chí¢teau fiscal Q3 loss widens 44.8% YOY

Le Château Inc. said its normalized net income for the fiscal third quarter ended Oct. 25 was a loss of 21 Canadian cents per share, compared with a loss of 15 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 C$6.3 million, compared with a loss of C$4.4 million in the year-earlier period.

The normalized profit margin fell to negative 10.8% from negative 6.7% in the year-earlier period.

Total revenue declined 11.1% on an annual basis to C$58.1 million from C$65.4 million, and total operating expenses decreased 5.8% on an annual basis to C$67.5 million from C$71.6 million.

Reported net income totaled a loss of C$11.1 million, or a loss of 37 cents per share, compared to a loss of C$5.1 million, or a loss of 18 cents per share, in the year-earlier period.