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Yangaroo Q1 loss narrows YOY

YANGAROO Inc. said its first-quarter normalized net income was a loss of C$217,570, compared with a loss of C$253,140 in the prior-year period.

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

The normalized profit margin climbed to negative 16.1% from negative 20.4% in the year-earlier period.

Total revenue grew 8.4% on an annual basis to C$1.3 million from C$1.2 million, and total operating expenses decreased 7.6% from the prior-year period to C$1.6 million from C$1.7 million.

Reported net income totaled a loss of C$348,100, or a loss of 1 cents per share, compared to a loss of C$405,030, or a loss of 1 cents per share, in the prior-year period.