Sotheby's Q3 Loss Narrows - Quick Facts

(RTTNews) - Auction house Sotheby's (BID) Monday said third-quarter net loss attributable to the company was $27.73 million, compared to last year's loss of $30.13 million. Loss per share was $0.40, compared to $0.44 in the prior year.

Third quarter results include restructuring charges of $14.3 million and an insurance recovery of previously reported special charges of $4.2 million.

On average, five analysts polled by Thomson Reuters expected a loss of $0.38 per share for the quarter. Analysts' estimates typically exclude special items. Total revenues declined to $94.20 million from last year's $107.86 million. Analysts estimated revenues of $ 91.28 million.

"Sotheby's has achieved substantial and broad-based successes across our global salesrooms through the third quarter, with double-digit growth in auction sales in virtually all our categories - including Impressionist & Modern, Contemporary, Asian Art, Jewelry, Old Masters, Photographs and Prints, 20th Century Design and Wine," said Chairman, President and CEO Bill Ruprecht.