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Ackroo Q1 loss narrows YOY

Ackroo Inc. said its first-quarter normalized net income amounted to a loss of 1 Canadian cents per share, compared with a loss of 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$225,590, compared with a loss of C$258,880 in the prior-year period.

The normalized profit margin increased to negative 41.1% from negative 67.2% in the year-earlier period.

Total revenue climbed 42.4% on an annual basis to C$548,300 from C$385,140, and total operating expenses rose on an annual basis to C$842,400 from C$805,230.

Reported net income totaled a loss of C$274,110, or a loss of 2 cents per share, compared to a loss of C$414,200, or a loss of 3 cents per share, in the prior-year period.