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MediaValet Q1 loss widens 92.1% YOY

MediaValet Inc. said its first-quarter normalized net income was a loss of C$879,760, compared with a loss of C$457,960 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue rose 17.7% year over year to C$253,410 from C$215,290, and total operating expenses grew 75.9% from the prior-year period to C$1.7 million from C$946,540.

Reported net income came to a loss of C$1.4 million, or a loss of 2 cents per share, compared to a loss of C$732,740, or a loss of 1 cents per share, in the prior-year period.