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MCBC Holdings swings to loss in fiscal Q1

MCBC Holdings Inc. said its normalized net income for the fiscal first quarter ended Sept. 27 amounted to a loss of 1 cents per share, compared with the S&P Capital IQ consensus estimate of 27 cents per share.

The per-share result swung to a loss from the prior-year profit of 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $181,250, compared with income of $2.4 million in the prior-year period.

The normalized profit margin dropped to negative 0.0% from 4.6% in the year-earlier period.

Total revenue increased 6.8% on an annual basis to $56.0 million from $52.4 million, and total operating expenses grew 17.0% from the prior-year period to $52.0 million from $44.4 million.

Reported net income totaled a loss of $1.3 million, or a loss of 8 cents per share, compared to income of $1.4 million, or 12 cents per share, in the prior-year period.