Rocky Mountain Liquor Inc. said its normalized net income for the first quarter amounted to a loss of C$266,270, compared with a loss of C$398,960 in the year-earlier period.

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

The normalized profit margin rose to negative 2.6% from negative 3.4% in the year-earlier period.

Total revenue declined 10.6% year over year to C$10.4 million from C$11.7 million, and total operating expenses decreased 11.6% year over year to C$10.6 million from C$12.0 million.

Reported net income stayed flat year over year at a loss of C$577,980, or a loss of 1 cents per share.