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ATI Airtest Technologies Q1 loss widens YOY

ATI Airtest Technologies Inc. said its first-quarter normalized net income came to a loss of C$64,360, compared with a loss of C$16,640 in the prior-year period.

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

The normalized profit margin declined to negative 10.9% from negative 1.6% in the year-earlier period.

Total revenue declined 43.5% on an annual basis to C$591,770 from C$1.0 million, and total operating expenses declined 36.9% year over year to C$646,410 from C$1.0 million.

Reported net income totaled a loss of C$102,980, or a loss of 0 cents per share, compared to a loss of C$26,630, or a loss of 0 cents per share, in the prior-year period.