Nash Finch Co. (NAFC) Thursday reported a loss for the second quarter compared to a profit last year, hurt mainly by lower revenues and higher costs and expenses.
The Minneapolis, Minnesota-based company's second-quarter net loss was $84.97 million or $6.55 per share, compared to a net profit of $10.05 million or $0.77 per share last year.
Excluding the impact of significant items, adjusted net earnings for the quarter were $9.0 million or $0.69 per share, compared to $12.1 million or $0.92 per share last year. On average, three analysts polled by Thomson Reuters expected the company to earn $0.59 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter dropped to $1.09 billion from $1.10 billion in the prior-year quarter.
For the quarter, total costs and expenses increased to $202.09 million from $73.96 million in the year-ago quarter, primarily affected by a goodwill impairment charge of $131.99 million.
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