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One Group Hospitality Q1 loss narrows YOY

One Group Hospitality Inc. said its normalized net income for the first quarter amounted to a loss of 1 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 1 cents per share.

The per-share loss decreased 75.1% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $288,600, compared with a loss of $1.1 million in the prior-year period.

The normalized profit margin increased to negative 1.8% from negative 9.7% in the year-earlier period.

Total revenue rose 39.2% year over year to $16.4 million from $11.8 million, and total operating expenses grew 25.3% year over year to $16.9 million from $13.5 million.

Reported net income came to a loss of $458,740, or a loss of 2 cents per share, compared to a loss of $1.1 million, or a loss of 4 cents per share, in the year-earlier period.