Bevo Agro Inc. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to a loss of C$104,280, compared with a loss of C$212,510 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 2.3% from negative 5.4% in the year-earlier period.

Total revenue increased 14.3% on an annual basis to C$4.5 million from C$3.9 million, and total operating expenses increased 9.7% on an annual basis to C$4.5 million from C$4.1 million.

Reported net income totaled a loss of C$123,470, or a loss of 0 cents per share, compared to a loss of C$262,860, or a loss of 1 cents per share, in the prior-year period.