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Wizard World Q1 loss narrows YOY

Wizard Entertainment Inc. said its first-quarter normalized net income amounted to a loss of $36,060, compared with a loss of $613,710 in the year-earlier period.

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

The normalized profit margin increased to negative 0.7% from negative 10.1% in the year-earlier period.

Total revenue decreased 12.4% year over year to $5.3 million from $6.1 million, and total operating expenses fell 21.6% from the prior-year period to $5.2 million from $6.7 million.

Reported net income came to a loss of $16,080, or a loss of 0 cents per share, compared to a loss of $1.0 million, or a loss of 2 cents per share, in the year-earlier period.