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CounterPath fiscal Q3 loss narrows YOY

CounterPath Corp. said its normalized net income for the fiscal third quarter ended Jan. 31 was a loss of 3 cents per share, compared with a loss of 8 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $155,080, compared with a loss of $328,180 in the year-earlier period.

The normalized profit margin increased to negative 5.8% from negative 10.9% in the year-earlier period.

Total revenue decreased 12.1% year over year to $2.7 million from $3.0 million, and total operating expenses fell 24.3% on an annual basis to $3.2 million from $4.3 million.

Reported net income came to a loss of $248,120, or a loss of 5 cents per share, compared to a loss of $525,080, or a loss of 12 cents per share, in the year-earlier period.