RYU Apparel Inc. said its normalized net income for the first quarter came to a loss of 1 cents per share, compared with a loss of 2 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 $759,060, compared with a loss of $589,840 in the prior-year period.
The normalized profit margin dropped to negative 268.8% from negative 179.4% in the year-earlier period.
Total revenue fell 11.0% year over year to $292,410 from $328,720, and total operating expenses increased 27.0% on an annual basis to $1.6 million from $1.2 million.
Reported net income came to a loss of $1.1 million, or a loss of 2 cents per share, compared to a loss of $943,750, or a loss of 3 cents per share, in the prior-year period.