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SPAR Group Q1 loss widens YOY

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SPAR Group Q1 loss widens YOY

SPAR Group Inc. said its normalized net income for the first quarter came to a loss of $195,500, compared with a loss of $43,000 in the year-earlier period.

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

The normalized profit margin fell to negative 0.7% from negative 0.1% in the year-earlier period.

Total revenue fell 9.1% on an annual basis to $26.6 million from $29.3 million, and total operating expenses fell 8.6% from the prior-year period to $26.4 million from $28.9 million.

Reported net income totaled a loss of $205,630, or a loss of 1 cents per share, compared to a loss of $74,000, or a loss of 0 cents per share, in the prior-year period.