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Global Invacom Q1 loss narrows YOY

Global Invacom Group Ltd. said its normalized net income for the first quarter amounted to a loss of $393,750, compared with a loss of $518,130 in the prior-year period.

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

The normalized profit margin increased to negative 1.3% from negative 1.9% in the year-earlier period.

Total revenue rose 13.8% year over year to $30.8 million from $27.0 million, and total operating expenses rose 11.2% on an annual basis to $31.5 million from $28.3 million.

Reported net income totaled a loss of $651,990, or a loss of 0 cents per share, compared to a loss of $939,370, or a loss of 0 cents per share, in the prior-year period.