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Tuesday Morning fiscal Q4 loss widens 18.2% YOY

Tuesday Morning Corp. said its normalized net income for the fiscal fourth quarter ended June 30 came to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share loss grew 17.0% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.1 million, compared with a loss of $1.8 million in the prior-year period.

The normalized profit margin fell to negative 1.0% from negative 0.8% in the year-earlier period.

Total revenue totaled $213.0 million, compared with $212.6 million in the year-earlier period, and total operating expenses came to $217.0 million, compared with $215.7 million in the year-earlier period.

Reported net income came to a loss of $3.9 million, or a loss of 10 cents per share, compared to a loss of $7.7 million, or a loss of 18 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 16 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 32 cents.

EPS rose from 2 cents in the prior year.

Normalized net income was $7.2 million, an increase from $647,500 in the prior year.

Full-year total revenue grew year over year to $906.4 million from $864.8 million, and total operating expenses grew year over year to $894.0 million from $863.0 million.

The company said reported net income totaled $10.5 million, or 24 cents per share, in the full year, compared with a loss of $10.3 million, or a loss of 24 cents per share, the prior year.