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WidePoint Q1 loss narrows YOY

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WidePoint Q1 loss narrows YOY

WidePoint Corp. said its first-quarter normalized net income was a loss of $411,290, compared with a loss of $703,510 in the year-earlier period.

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

The normalized profit margin increased to negative 2.0% from negative 4.0% in the year-earlier period.

Total revenue climbed 15.9% on an annual basis to $20.5 million from $17.7 million, and total operating expenses increased 12.6% on an annual basis to $21.2 million from $18.8 million.

Reported net income came to a loss of $660,480, or a loss of 1 cents per share, compared to a loss of $1.1 million, or a loss of 1 cents per share, in the prior-year period.