Regis Reports Loss In Q1 - Quick Facts

(RTTNews) - Regis Corp. (RGS) Tuesday reported loss for the first quarter, with a decrease in revenues. The company said the current quarter included net discrete after-tax expense of $0.7 million, while the same quarter last year included $34.1 million of net discrete after-tax income.

Net loss for the period was $0.14 million, compared with profit of $38.42 million a year ago. On a per share basis, the company reported a breakeven, compared with $0.59 last year.

Adjusted earnings per share for the quarter were $0.01. The company said it benefited from cost savings initiatives, cost reductions related to the company's field reorganization and lapping higher labor costs related to a full commission coupon event and retail incentive commission plan in the prior year quarter.

On average, five analysts polled by Thomson Reuters expected the company to report loss per share of $0.05the quarter. Analysts' estimates typically exclude one-time items.

Regis reported a 7.3 percent decline in sales to $468.6 million, from prior year's $505.3 million. Analysts expected revenue of $461.56 million for the quarter. Same-store sales declined 5.4 percent.