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Premier Exhibitions fiscal Q2 loss widens YOY

Premier Exhibitions Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 was a loss of 19 cents per share, compared with a loss of 2 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 $956,250, compared with a loss of $100,130 in the year-earlier period.

The normalized profit margin dropped to negative 11.5% from negative 1.3% in the year-earlier period.

Total revenue climbed 6.1% on an annual basis to $8.3 million from $7.8 million, and total operating expenses grew 25.7% on an annual basis to $10.2 million from $8.1 million.

Reported net income totaled a loss of $1.5 million, or a loss of 34 cents per share, compared to a loss of $62,000, or a loss of 1 cents per share, in the year-earlier period.