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XG Technology Q1 loss widens 27.4% YOY

Vislink Technologies Inc. said its first-quarter normalized net income amounted to a loss of $13.63 per share, compared with the S&P Capital IQ consensus estimate of a loss of $12.00 per share.

The per-share loss narrowed 84.6% year over year from $88.49.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.8 million, compared with a loss of $2.2 million in the year-earlier period.

Total revenue grew 59.1% on an annual basis to $929,000 from $584,000, and total operating expenses climbed 20.1% on an annual basis to $5.5 million from $4.6 million.

Reported net income came to a loss of $4.4 million, or a loss of $21.46 per share, compared to a loss of $4.6 million, or a loss of $184.41 per share, in the year-earlier period.