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Truett-Hurst fiscal Q1 loss widens 47.3% YOY

Truett-Hurst Inc. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to a loss of 2 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 1 cents per share.

The per-share loss grew 37.2% year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $91,880, compared with a loss of $62,380 in the prior-year period.

The normalized profit margin dropped to negative 1.5% from negative 1.2% in the year-earlier period.

Total revenue rose 31.1% on an annual basis to $6.8 million from $5.2 million, and total operating expenses increased 29.8% on an annual basis to $7.0 million from $5.4 million.

Reported net income came to a loss of $212,000, or a loss of 5 cents per share, compared to a loss of $129,020, or a loss of 4 cents per share, in the year-earlier period.