Intema Solutions Inc. said its first-quarter normalized net income was a loss of C$113,390, compared with a loss of C$178,960 in the year-earlier period.

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

The normalized profit margin dropped to negative 54.4% from negative 53.0% in the year-earlier period.

Total revenue fell 39.8% year over year to C$203,450 from C$337,760, and total operating expenses fell 38.4% year over year to C$378,950 from C$615,300.

Reported net income totaled a loss of C$207,020, or a loss of 0 cents per share, compared to a loss of C$286,340, or a loss of 1 cents per share, in the year-earlier period.