Quizam Media Corp. said its normalized net income for the fiscal first quarter ended Aug. 31 was a loss of 2 Canadian cents per share, compared with a loss of 5 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$40,220, compared with a loss of C$57,470 in the prior-year period.
The normalized profit margin rose to negative 27.3% from negative 28.6% in the year-earlier period.
Total revenue declined 26.5% year over year to C$147,530 from C$200,650, and total operating expenses fell 17.1% on an annual basis to C$215,480 from C$259,930.
Reported net income came to a loss of C$64,350, or a loss of 3 cents per share, compared to a loss of C$91,960, or a loss of 7 cents per share, in the year-earlier period.