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Information Services swings to loss in Q1

Information Services Group Inc. said its normalized net income for the first quarter was a loss of 1 cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

The per-share result swung to a loss from the prior-year profit of 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $473,000, compared with income of $1.1 million in the year-earlier period.

The normalized profit margin fell to negative 1.1% from 2.2% in the year-earlier period.

Total revenue decreased on an annual basis to $49.9 million from $50.5 million, and total operating expenses grew on an annual basis to $49.7 million from $48.6 million.

Reported net income came to a loss of $746,800, or a loss of 2 cents per share, compared to income of $869,000, or 2 cents per share, in the prior-year period.