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Bluestem Group fiscal Q1 loss widens YOY

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Bluestem Group fiscal Q1 loss widens YOY

Bluestem Group Inc. said its normalized net income for the fiscal first quarter ended May 1 was a loss of $13.4 million, compared with a loss of $195,500 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 6.8% from negative 3.3% in the year-earlier period.

Total revenue increased on an annual basis to $212.7 million from $6.0 million, and total operating expenses grew from the prior-year period to $218.0 million from $9.3 million.

Reported net income totaled a loss of $23.1 million, or a loss of 17 cents per share, compared to a loss of $2.0 million, or a loss of 2 cents per share, in the prior-year period.