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SITO Mobile Q1 loss widens YOY

SITO Mobile Ltd. said its first-quarter normalized net income came to a loss of 4 cents per share, compared with a loss of 1 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 $731,690, compared with a loss of $211,570 in the prior-year period.

The normalized profit margin declined to negative 23.0% from negative 5.6% in the year-earlier period.

Total revenue grew 72.2% on an annual basis to $6.5 million from $3.8 million, and total operating expenses climbed 93.8% on an annual basis to $7.2 million from $3.7 million.

Reported net income came to a loss of $1.2 million, or a loss of 7 cents per share, compared to a loss of $338,510, or a loss of 2 cents per share, in the prior-year period.