Regis Posts Adj. Loss In Q3; Revenue Down 40.5% - Quick Facts

(RTTNews) - Regis Corp. (RGS) reported a third quarter adjusted loss per share of $0.12 compared to profit of $0.37 per share, prior year. The company said the year-over-year decrease in adjusted results was driven primarily by the year-over-year decrease in the gain from the sale of salons to franchisees. Analysts polled by Thomson Reuters expected the company to report a loss per share of $0.20, for the quarter. Analysts' estimates typically exclude special items.

Third quarter total revenue was $153.8 million, down 40.5% year-over-year driven primarily by the conversion of a net 1,581 company-owned salons to the asset-light franchise portfolio over the past 12 months. Analysts expected revenue of $163.75 million for the quarter.