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Le Chí¢teau fiscal Q1 loss narrows YOY

Le Château Inc. said its normalized net income for the fiscal first quarter ended May 2 was a loss of 26 Canadian cents per share, compared with a loss of 34 cents per share in the first quarter ended April 26, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$7.7 million, compared with a loss of C$9.2 million in the first quarter ended April 26, 2014.

The normalized profit margin rose to negative 15.2% from negative 17.3% in the year-earlier period.

Total revenue decreased on an annual basis to C$50.7 million from C$53.3 million, and total operating expenses fell 7.5% from the prior-year period to C$62.3 million from C$67.4 million.

Reported net income totaled a loss of C$12.3 million, or a loss of 41 cents per share, compared to a loss of C$13.1 million, or a loss of 48 cents per share, in the first quarter ended April 26, 2014.