Regis Corp. Q3 Net Loss Narrows, Same Store Sales Down 0.7%

(RTTNews) - Hair Salons operator Regis Corp. (RGS) Thursday announced a narrower net loss for the third quarter on lower revenues. The quarterly net loss was $3.71 million or $0.068 per share compared to $9.48 million or $0.168 per share a year ago. The results includes loss of $0.07 per share due to the impact of the non-cash deferred tax valuation allowance on income tax expense and net discrete expense.

On an adjusted basis, net loss narrowed to $3.59 million or $0.066 per share from $8.212 million or $0.145 per share in the previous year.

On average, 5 analysts polled by Thomson Reuters expected a loss of $0.02 per share. Analysts figures usually excludes special items.

Sales for the third quarter declined 3.7 percent to $454 million, from $471.6 million a year ago. Analysts expected revenue of $466.79 million. Same-store sales decreased 0.7%.