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Canbiola Q1 loss narrows YOY

Canbiola Inc. said its first-quarter normalized net income came to a loss of $90,380, compared with a loss of $280,520 in the prior-year period.

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

Total revenue declined 43.8% on an annual basis to $22,230 from $39,520, and total operating expenses fell 65.8% year over year to $167,000 from $488,230.

Reported net income came to a loss of $144,610, or a loss of 0 cents per share, compared to a loss of $2.4 million, or a loss of 1 cents per share, in the year-earlier period.